ChocoA Berlin-based food technology firm, based in Germany, has raised $111 Million in Series B2 financing, with a total value of approximately $1.2 Billion.
G Squared, an American growth investor, and Insight partners managed the round of internal crowdfunding.
The company intends to use the additional funds for continued technological advancement, growth support across Europe, America, and Europe and expansion to new markets.
Choco was established in 2000 by serial entrepreneurs Daniel Khachab & Julian Hammer. It offers a software platform that digitizes ordering, supply chain operations, and communications between restaurant and foodservice suppliers.
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Choco connects restaurant operators and suppliers via a single platform. It optimizes purchasing processes and helps customers reduce time, money and food costs. Choco was founded in 2018 and has experienced rapid growth. It is now available in many markets, including the U.S. and Germany. In February 2022, Choco saw a record $1.2 billion in goods traded.
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