The European Funding Financial institution (EIB) has introduced they’re investing €20 million in StiQ, an Athens-based FoodTech firm innovating AI-powered cloud kitchen expertise.
The financing, backed by the InvestEU programme, will assist the corporate’s R&D, digital innovation and worldwide enlargement, serving to remodel the way forward for meals supply in Europe by way of smarter, extra sustainable and scalable operations.
Konstantinos Davaris, Founder & CEO of StiQ stated: “We’re thrilled to welcome the European Funding Financial institution as a strategic accomplice in our mission to redefine fast-casual eating. At StiQ, we’re main a brand new period of wholesome consuming by mixing cutting-edge expertise and AI with culinary excellence. Via our numerous portfolio of manufacturers, together with Protein Backyard, Dinas, Wholesome Idea, and extra, we ship scrumptious, nutritious, and inexpensive meals that make wholesome eating accessible to everybody. With EIB’s assist, we’re able to scale our imaginative and prescient, fostering a extra sustainable, health-conscious future for communities worldwide.”
Based in 2022, STIQ seems to be to develop into a trailblazer within the digital restaurant (cloud kitchen) area. Its mannequin integrates software program, logistics, and meals operations right into a single platform that permits environment friendly preparation and supply of a number of digital restaurant manufacturers from a community of culinary hubs.
The corporate has raised over €10 million up to now and is now coming into its European progress part.
Key options of the platform embody:
- AI-powered demand forecasting, dynamic menu engineering and stock optimisation
- Good routing and grouped order supply, lowering CO₂ emissions and supply time
- Information-driven operations that improve consistency, meals security, and buyer satisfaction.
With 5 reside kitchen hubs in Athens, serving over 20 manufacturers to a possible market of three million residents, STIQ at present employs 200 employees and plans to achieve 30 hubs throughout Europe by 2029.
The corporate seems to be to scale quickly whereas sustaining a powerful give attention to meals high quality, operational effectivity and environmental duty, together with zero-waste targets and the adoption of electrical supply fleets.
EIB Vice-President Yiannis Tsakiris, stated: “This funding displays the EIB’s agency dedication to supporting innovation, digital transformation and entrepreneurship throughout Europe. STIQ is reshaping the meals supply mannequin by way of expertise, and we’re proud to assist a Greek firm that’s constructing scalable, sustainable options with European attain.”
The funding is a part of the EIB’s strategic give attention to digital transformation, innovation and cohesion, and goes in step with its continued assist for high-potential expertise ventures in Southern and Japanese Europe.
Structured as enterprise debt with quasi-equity options, the financing will allow STIQ to speed up the event of its proprietary platform, deploy superior AI options, and increase its operational footprint past Greece into new EU markets.
The EIB financing is backed by the InvestEU programme below the “Future Applied sciences” window and addresses key market gaps in entry to progress capital for early-stage European tech corporations.
