Food tech start-up Curb secures EUR20 million funding
Curb, a Nordic dark kitchen startup which uses technology and data in order to improve customer experience, has secured EUR20 million in funding by Point72 Ventures, with participation from its existing investor EQT Ventures.
Founded in May 2020 by CEO Carl Tengberg and CSO Felipe Gutierrez, Stockholm-based Curb creates its delivery food concepts from the ground up, building each brand using data.
"The next few years will transform the market for online restaurants. This is just the beginning and we are proud backers of the team at Curb, who are true innovators in the space," Sandra Malmberg, Venture Lead at EQT Ventures in Sweden, commented.
The capital will be used to make new investments in tech and to continue to grow the company. In an industry predicted to become a USD1 trillion market by 2030, Curb said it wants to push the boundaries of how we think about restaurants and food tech.
According to Sri Chandrasekar, Managing Partner at Point72 Ventures, technology is going to transform the restaurant industry in the next decade. “Data can be used to optimise everything from site selection to supply chain to menu design in order to improve the customer experience,” he explained.
Following its EUR3.2 million fundraise at the end of 2020, Curb launched in Denmark while continuing to expand its presence in Sweden. "Having witnessed and participated firsthand in the growth of food delivery, we are even more excited to explore the disruptive effect technology can have on the content and production side," commented Carl Tengberg, CEO and founder of Curb, who is also an ex-Delivery Hero executive.
"We have spent the last 12 months pushing boundaries and stress-testing conventional wisdoms with the end goal of understanding how to build a scalable model better positioned for tomorrow's demands, and we think we are getting close," he added.