Hungarian foodtech Munch raises a seed round of investment
05 July, 2023, 11:12
Budapest-based provider of food-saving platform, Munch, has raised an undisclosed amount of investment to eliminate food waste. The seed round was led by Fiedler Capital and joined by multiple VCs and angel investors.
- Munch was founded in 2020 by Bence Zwecker, Albert Wettstein, Kirill Perepelica, and Botond Zsoldos. In November 2022, the company merged with Czech-based app Nesnězeno, co-founded by Jakub Henni.
- Munch offers a food management platform for restaurants, bakeries, hotels, supermarkets, and other stores to sell surplus food. The platform helps businesses to make food management sustainable from an environmental, social, and economic point of view, enabling clients to reduce food waste and also profitable losses.
- The startup claims that it has saved over 800,000 food packages from going to waste, resulting in the prevention of nearly 2 million kilograms of CO2 emission. Munch also has its charity project that deliver food to those who need it.
- The investment was led by Fiedler Capital, a Budapest-based venture capital firm. Among its investments is ＄1.5 million round for Latvian startup Trace.Space. To date, Ljubljana-based Silicon Gardens, an early-stage VC firm that aims to empower Slovenian startups such as local Muffin, also participated.
- Munch will use the investment for further expansion across the CEE region and beyond, encompassing countries such as Slovenia, Croatia, Serbia, Romania, Greece, Bulgaria, and others.