Estonian startup Yummy raises a total of €3.4M in a pre-seed round

The Talinn-based foodtech startup Yummy has raised a total of €3.4 million in a pre-seed round to accelerate global expansion. The round was closed by Czech fund Depo Ventures, Startup Wise Guys, and some angel investors.

  • Founded in 2020 by Karl Paadam and Martin Salo, Yummy is a foodtech startup that offers a wide selection of meat or fish dishes, and also vegetarian options, lactose-free, and gluten-free dishes.
  • As Yummy explains, the main goal of the startup is to inspire everyone to cook for themselves using quality based, while at the same time affordable ingredients. Its services save time, because users always can order the menu for the following week, change the day and time of delivery, or cancel an order, as well as money, as clients always get the exact quantity for the number of portions ordered. 

“We help families save money and time on menu planning and grocery shopping. But that’s just the beginning. We’re building a platform to help households solve all their food-related worries. From budgeting to shopping to making sure they eat healthy and well, and that includes dieting. We are creating a service that will make it all as easy as turning on the tap and running the water,”

 co-founder Karl Paadam comments.
  • The Prague-based investment group DEPO Ventures that manages angel funds and an international syndicate of private investors called DEPO Angels has participated in the investment. The fund typically invests €100,000 in European tech startups with valuation that amounted up to €3 million.
  • In the first investment round, which took place in 2021, the company raised €1.5 million from Estonian accelerator Startup WiseGuys, and some angel investors.
  • With the fresh funding, Yummy plans to enter markets in Poland, Czech Republic, and the whole of Central and Eastern Europe.