Price f(x) picks up €25M Series B for its pricing optimization SaaS

Price f(x), a startup that offers cloud-based pricing software, has raised €25 million in Series B funding. Leading the round is European B2B technology growth investor Digital + Partners, and consulting firm Bain & Company. Prague-based Credo Ventures and London-based Talis Capital, which both backed Price f(x) at Series A, have also participated in this new round.

Founded in 2011, Munich-based Price f(x) provides a modular SaaS solution for price optimisation management (PO&M) and configure-price-quote (CPQ) for enterprises of any size.

Pricing optimisation software typically helps companies accurately define the price of goods across a vast and constantly changing spectrum of data and variables. This can include things like customer survey data and segments, competitor data, operating costs, inventories, and historic prices and sales.

CPQ software aggregates these variables, thus enabling companies to configure products or services in the most optimal way (i.e. bundling, up-sells, etc.), and price them according to costs, competition and local economic factors.

This end result is that is that it can drastically speed up and improve the accuracy of the quoting process to give customers the best price possible in accordance with all of the above factors.

Price f(x) says it currently serves over 80 global, blue-chip B2B and B2C customers across a variety of industries, including Robert Bosch, SchneiderElectric, Owens- Illinois, Iron Mountain and Sonoco. The company has also developed a strong partner ecosystem with leading global technology, consulting and integration providers, including new backer Bain & Company, and SAP.

Notably, Price f(x) is in the midst of litigation with U.S. competitor Vendavo over a number of patent disputes. In December 2017, Vendavo launched a lawsuit against Price f(x), which the German company refutes. And earlier this week, Price f(x) filed petitions for “Covered Business Method (“CBM”) Review” of four Vendavo patents, and says it will imminently file a fifth, which together will cover challenges to all of the patent claims that Vendavo has asserted in litigation between the two parties.

“Price f(x) has become the leading SaaS pricing solution provider on the market through its customer centric approach and by offering a feature rich, highly flexible pricing tool that is also risk free and fast to implement,” says Marcin Cichon, CEO and co-Founder of Price f(x), in a statement. “Our success is based on the continued satisfaction and loyalty of our customers. This new funding will allow us to help even more businesses to thrive by further expanding our existing platform capabilities and also introducing a new product offering for the SME market segment”.

“For most companies, pricing is the single most effective lever to boost earnings,” says Ron Kermisch, Bain & Company’s global pricing leader. “Yet many companies leave money on the table because they do not set the best price or ensure customers actually pay the price they have determined. Bain & Company sees investing in Price f(x) as a great opportunity to help Price f(x) to become the de-facto standard in pricing and with that to be also the best-of-breed competitive weapon for Bain’s clients, to stay at the cutting edge of pricing”.

Flux raises $7.5M Series A to bring its digital receipts platform to more banks and merchants

Flux, the London fintech that has built a technology platform for banks and merchants to power itemised digital receipts and a lot more, has raised $7.5 million in Series A funding. The round is led by VC firm e.ventures (which has previously backed the likes of Farfetch, Sonos and Groupon), with participation from existing investors PROfounders, and Anthemis.

Founded in 2016 by former early employees at Revolut, Flux bridges the gap between the itemised receipt data captured by a merchant’s point-of-sale (POS) system and what little information typically shows up on your bank statement or mobile banking app. Off the back of this, it can also power loyalty schemes and card-linked offers, as well as give merchants much deeper POS analytics via aggregated and anonymised data on consumer behaviour, such as which products are selling best in unique baskets.

On the banking side, Flux is currently available through Barclays (via Barclays Launchpad), challenger bank Starling, and for a small alpha group of Monzo customers. Once banking customers link their account to the service, Flux delivers digital receipts (and where available rewards and loyalty) for transactions at Flux retailer partners.

To that end, merchant partnerships include Costa Coffee, EAT, pod and itsu. Flux also recently announced that Pure is joining the service.

“Our mission has always been to liberate the world’s receipt data because by doing this we can enrich trillions of experiences globally,” Flux co-founder and CEO Matty Cusden-Ross tells me.

“The information on a receipt is used all the time in everyday life, from budgeting to loyalty to expensing but today these all require manual steps. We see a future in which all of these manual processes become seamless experiences, simplifying and enriching people’s lives. Our focus today is on establishing a standard, the Flux platform, to make this a reality within the U.K. before expanding to our first international market”.

Of course, Flux’s attempts to become a standard for the interchange of item level digital receipt data — and the proprietary platform that powers that standard — has always faced a chicken and egg problem: It needs bank integrations to sign up merchants and it needs merchant integrations to sign up banks. Cracking this problem has clearly started to gather momentum, something that hasn’t gone unnoticed by investors.

“We’ve transitioned from having to prove it’s possible to now scaling and that’s a great feeling,” says Cusden-Ross. “The aim for this round is to continue making Flux the gold standard for anything that touches receipt data, [ensuring] Flux remains super easy to use for everyone — consumers, banks and retailers. What this means is going fully live across some of the largest U.K. retail banks as well as ramping our up our live merchants”.

(Related, I understand that Flux has already begun integrating with one of the major U.K. supermarkets and an “international fast food chain,” amongst other unannounced partnerships.)

“Creating a real-time platform that handles massive data volumes is hard, but we’ve cracked it,” adds the Flux CEO. “We’re investing heavily in bringing on the best engineers to continue scaling in a big way. Having figured out the recipe for working with banks and retailers quickly, it’s now all about growing as fast as possible”.

Meeshkan raises €370K for its ‘ChatOps’ bot for training machine learning models

Meeshkan, a Finnish startup that made quite a splash at the recent Slush conference, has quietly raised €370,000 in pre-seed funding to continue developing its “ChatOps” product for machine learning developers.

Deployed on Slack, the bot allows developers to “rapidly stop, restart, fork, tweak, monitor, deploy and test machine learning models” without interrupting the collaborative workflows they are accustomed to or being forced to go back and forth between disparate developer tools.

Under the hood, Meeshkan says it uses patent-pending tech for speedily partitioning of data-flow across distributed infrastructure. Related to this, the burgeoning company is currently partnering with Northeastern University and CUDA to develop “zero-downtime” checkpointing of ML models in TensorFlow and PyTorch.

In an email exchange, Meeshkan founder Mike Solomon explained that training ML models is currently done through command line interfaces and web dashboards, which is not optimum for collaboration. This is because teams typically need to communicate about ML model training, make decisions about models, act on these decisions instantly, and react to push notifications about a job’s status, none of which can conveniently happen through the command line or web dashboards.

“My generation writes less and less code, but we are iterating on it faster and faster with incremental changes,” he says. “In machine learning, this could be a small tweak in the learning rate of a model. In unit testing, this could be covering the corner case of an API that returns null values in certain circumstances. What unites these scenarios is that developers are dealing with externalities, like data or a third-party API, and trying to build fast on top of them. A world-class IDE, while it helps with lots of problems, does not provide much value for these small tweaks. We’ve found that what developers need is a frictionless environment to make the tweak/test/learn loop turn as fast as possible”.

To begin fixing this, Solomon tells me that Meeshkan set out to create a bot on Slack that helps teams monitor and tweak the training of their ML models in realtime. “For ML engineers, we found that they spent hours on Slack discussing what to do with their models but had to resort to arcane and byzantine hacks to apply, document and archive these changes,” he says.

“We made a simple bot where teams can turn their discussions on Slack about things like changing a learning rate or a batch size into action, right from Slack. From this simple idea, the floodgates opened. Developers really quickly let us know what they wanted to control from Slack, some of which is trivial to implement, some of which is profoundly difficult and leads us to uncharted engineering territory”.

Meeshkan has several patent-pending algorithms from the resulting work. Solomon also explained that the same underlying problem exists in continuous integration and “data wrangling” as well, and that the team is developing a suite of products that address this concern.

This includes a second product called unmock.io, which brings the same idea to testing and continuous integration and has seen traction at AWS re:Invent. “We look to be releasing more tools along this line during Q1 of 2018,” he adds.

Meanwhile, Meeshkan’s pre-seed backers include Risto Siilasmaa and Kim Groop (First Fellow Partners), Finnish angel Ali Omar, Christian Jantzen’s Futuristic.vc, and Neil Murray’s The Nordic Web Ventures.

Waggel launches ‘fully digital’ pet insurance

Waggel, a new ‘insurtech’ startup in the U.K., is officially launching today to offer what it describes as “fully digital” pet insurance.

Founded by Andrew Leal, and Ross Fretten (a contestant of The Apprentice 2017), the company wants to offer more transparent cover for your pet, where you’ll know exactly how much you’re paying and for what provision, as well as offer rewards for improving the care of your animal.

“The biggest problem in pet insurance and insurance in general is the lack of value that customers get with a policy,” says Leal. “You pay a monthly fee and get nothing in return except maybe a promise to pay out a claim in the future. On top of this, pet insurance has become extremely complicated for users with confusing policy names and jargon-rich wording. The industry is still largely paper based, slow and terrible at communicating with customers and as a result falling well short of todays consumer expectations. Insurance is very much a grudge purchase”.

Leal says that Waggel is attempting to solve this by offering a fully digital solution that puts the customer experience first “to alleviate the stress that is typical of insurance”.

You are able to get a quote within 30 seconds that explains in simple language what you’re getting for your money. You can also make a claim within the app and track that claim in real-time, while Waggel promises to be transparent on how much it is paying out and why.

“All without having to hear another minute of hold music!” quips the Waggel founder.

In addition to the startup’s core insurance product, Waggel offers a rewards programme that Leal says makes it easier and more affordable for customers to take preventative care of their pet through feeding them higher quality nutrition. This comes in the form of “discounts with our hand-picked quality pet food partners,” he says.

In terms of competition, Leal says there are numerous incumbents in the pet insurance space but cites PetPlan and Animal Friends as the main two.

“Pet insurance has gotten stuck in a vicious cycle,” he adds. “The market has developed in that competitors offer an extremely homogenous product. With not much separating the different offerings, price has become the main differentiator. On the other side, the average vet bills have continued to rise. This means that insurers are getting squeezed for profits and having to offer less and less value to their customers, whilst being stricter and stricter on claims.

“We want to bring a new fresh approach to the market in that we want to see our policyholders as members and their premium as a subscription, for which they can get continuous value for their monthly fee through our rewards programme”.

Floom, the online marketplace and SaaS for florists, receives $2.5M seed

Floom, the online marketplace and SaaS for independent florists, has raised $2.5 million in a seed funding. The round was round led by Firstminute Capital, and will be used by the London headquartered startup to continue to expand to the U.S., where it already operates in New York and L.A., and to further develop its software offering.

Additional investors include Tom Singh (founder of New Look), Pembroke VCT, Wing Chan (CTO digital experiences of The Hut Group), and Carlos Morgado (former CTO of Just Eat). Morgado has also joined Floom’s board.

Founded by 31-year-old Lana Elie in 2016, Floom bills itself as a curated marketplace for independent florists. Alongside this, the company’s technology platform gives florists the software and tools they need to create and deliver “beautifully crafted bouquets” to customers. It’s this SaaS play that Elie says sets Floom apart from competitors.

“We rely on a network [of florists], like many of the bigger competitors, so that we can offer same-day delivery without the risk of holding stock ourselves,,” she tells me. “But instead of telling the florists what to create and what to hold in stock, we built them an Etsy-like UI to design and deliver beautifully crafted bouquets to our online communities themselves”.

This sees florists provided with a “backend management dashboard” to create, allocate and manage inventory, and to co-ordinate with Floom’s marketplace. The software manages and tracks delivery, too.

“Customers receive more bouquet options, in more areas, by vetted florists, with the ultimate convenience of a seamless check-out and what everyone really wants: confirmation of safe receipt in their loved one’s hand,” explains Elie. “If the final product doesn’t match the picture, they get their money back, something that most competitors can’t offer, but we solved this by relying on the florists to generate the bouquet catalogue themselves”.

On the flower delivery front, Floom’s main competitors are Interflora in the U.K. (owned by 100-year-old conglomerate FTD in the U.S.), as well as 1-800-flowers and Teleflora. “There have been some new players in the flower space, but none solve the problem by creating better technologies,” argues the Floom founder.

“Floom’s not just a flower delivery service but a tech company. I wanted to solve a problem: showing customers all the amazing artisanal florists in their home cities, and making the experience of sending flowers enjoyable and hassle-free. On top of that, we wanted to create a fresh brand that appealed to an audience of my generation… and different from how you might typically think of the flower industry”.

With that said, Elie concedes that there is other florist software in existence, but says it doesn’t really consider the florists as a customer in the same way that Floom does. This is especially true in how the startup understands that the “brand and UI is just as important as functionality”.

“Florists are creative, skilled in a way that I’m definitely not, but when it comes to something like a website build, they’re paying the wrong people much more than they need to build badly UX’d sites,” she adds. “Florists are given no chance to really compete in a world where everything is digital. Building a management tool that speaks to all florists’ consumer facing channels (phone, email, chat, webshop, POS etc) will ultimately mean cost and time savings for the florist, less unnecessary waste for environmental purposes, and better products and delivery experiences for the customer”.

Wluper, a London-based startup building a better conversational AI, picks up $1.3M seed

Wluper, the London-based tech startup building a conversational AI to power knowledge-based voice assistants, has raised $1.3 million in seed funding. Leading the round is “deep tech” VC IQ Capital, with participation from Seedcamp, Aster, and Magic Pony co-founder Dr Zehan Wang.

Founded in 2016 and originally backed by Jaguar Land Rover’s InMotion Ventures, Wluper’s “conversational AI” is initially targeting navigation products with what it describes as “goal-driven dialogue” technology that is designed to have more natural conversations to help with various navigation tasks.

The ‘secret sauce’, as it were, is that Wluper believes voice assistants work much better when the underlying AI is tasked with becoming an expert in a more narrow and specialist domain.

“When we think of intelligent assistants like Alexa or Siri, the only time you’ll believe they’re really good is if they understand you properly; most of the time, they simply can’t,” says Wluper co-founder Hami Bahraynian. “It is not the speech recognition which fails. It is the missing focus and lacking reasoning of these systems, because they all can do a lot of things reasonably well, but nothing perfectly”.

Describing the goal of “general” conversation AI as one that could take 15, 20 or more years to achieve, Bahraynian says that in the interim what is needed is “intelligent agents” that are created for a certain purpose, now.

“This is exactly what we do,” he says. “We build domain-expert conversational intelligence, which does one thing, understanding everything transport-related, but that one thing perfectly”.

Furthermore, Wluper’s approach is able to make clear assumptions regarding what the user is talking about, and therefore claims to be able to understand much more complex questions and in a more natural way. This includes multi-intent queries, and follow-up questions to enable a “true” conversation, says Bahraynian.

In addition, Wluper has been conducting R&D in what comes after the “understanding” bit of the NLP pipeline, leading the startup to undergo further research on a machine’s “knowledge acquisition” capabilities, which it believes is a crucial piece of the puzzle needed to solve conversational AI.

“Even if naturally asked user queries are eventually understood correctly, extracting and providing relevant and useful information from the right places is even more challenging, and with current mostly ruled-based approaches, ultimately impossible to scale,” adds Bahraynian.

“We work on this problem by moving away from traditional handcrafted methods and work on new ways to optimise a machine’s knowledge acquisition and finding the right balance between structured and unstructured data in order to provide more meaningful results”.

Meanwhile, Wluper’s seed investment will be used to hire more engineers and research scientists to expand the startup’s research and development capabilities.

Movinga, the European house removals platform, raises further €15M

Movinga, the European house removals and relocation platform, has closed €15 million in further funding. The round was led by London-based growth investor ETF Partners, with participation from existing backers Santo Venture Capital, Earlybird, and Rocket Internet.

The company says the new capital will support “further process automation”, the launch of new services, and international expansion. I understand this will include acquiring its largest online removals competitor in France but Movinga isn’t saying who just yet. Earlier this year Movinga acquired various assets of its biggest German competitor Move24 after the company filed for bankruptcy.

Founded in Berlin in 2015 and now with almost 220 employees across the German, French and Swedish markets, Movinga set out to make it easier to book a city-to-city house move online, noting that the B2C relocation industry is notoriously fragmented and inefficient.

Traditionally, removal firms in Europe are small with processes that are driven manually, which creates additional costs and, says Movinga, results in a frustrating customer experience. It also means traditional relocation companies often struggle with under-utilised capacity — up to 80 percent, apparently resulting in unnecessary CO₂ pollution and traffic in inner cities.

By combining logistics and consumer app technology with a two-sided marketplace that sees Movinga work with relocation partners, the startup is attempting to solve this.

“We currently operate in France, Germany and Sweden, and will soon enter the international overseas moves sector as well as additional countries in Europe,” Movinga CEO Finn Age Hänsel tells me. I understand this will include Austria, and the Benelux region. Currently, the main Movinga model is city-to-city moves, but the company recently added MovingaNow, in a bid to enter the inner-city local segment.

“MovingaNow is extending our model to a smart inner-city model similar to GoGoVan or LUGG.com,” says Hänsel. “In the mid-term, we will also offer real-time on-demand logistics services under that brand, offering an algorithm-driven “Pool Service” for bulky logistics. While we only work with professional moving companies in the traditional Movinga full-service city-to-city, we plan a mix for MovingaNow using traditional companies in the beginning but opening it up for students as helpers as well. We also just leased the first Streetscooters [Electric Minivans]” to conduct transports and see already a great market for it”.

Meanwhile, regarding the acquisition of parts of Move24, the Movinga CEO says it acquired all of the company’s brands, IP rights, domains, and technology. “Basically everything thats valuable,” he says. “On top, we took over a significant amount of employees in management and other departments e.g. kickstarting the Swedish market but also strengthening all other markets and departments”.

Berlin-based Wind Mobility raises $22M for its e-scooter rental service

Wind Mobility, a Berlin-based mobility startup that offers “dockless” e-scooter (and electric bicycle) rentals, has raised $22 million in seed funding, throwing its hat into the European competitor to Bird and Lime ring.

It follows recent raises by Sweden’s VOI ($50 million Series A led by Balderton) and Germany’s Tier (€25 million Series A led by Northzone). All three companies are attempting to be pan-European from the get-go.

In other words, you wait all year for the ‘Bird or Lime of Europe’ to appear and three contenders get funded at once. And that’s before we mention Taxify’s entrance into e-scooter rentals or Delivery Hero and Team Europe founder Lukasz Gadowski’s reported plans to enter the space, having picked up backing from the mobility arm of Target global.

Meanwhile, despite being U.S. companies, Bird and Lime have received substantial investment from three of Europe’s top venture capital firms. Index and Accel have backed Bird, and Atomico has backed Lime.

But I digress…

Investing in Wind Mobility’s rather large seed round is Chinese Source Code Capital, and Europe’s HV Holtzbrinck Ventures. The company says the investment will be used for global expansion and to further develop its e-scooter product. Wind current operates its e-scooter rental service in various cities in Spain, France, and the U.S., and its dockless bicycle rental service Byke in Germany.

Notably, Wind is currently developing its first proprietary model of electric scooters specifically designed for the sharing market, which co-founder and CEO Eric Wang tells me will become a significant differentiator going forward.

“Currently, almost all the scooters on the market are from Ninebot, which is designed for personal use rather than sharing,” he says. “Our own scooters are specifically designed for sharing: longer battery range, swappable battery, more capability to climb hills, sturdy and more fit for sharing. We can also tailor our scooters to the requirement of certain cities. This gives us an edge in continuing to adopt to customer needs and regulatory requirements”.

Alongside this, Wind Mobility has developed a proprietary “IoT technology and communication module” that it says gives it better location accuracy of its scooters. The system is also capable of delivering over-the-air updates to the Wind communication module to control certain functionality of its scooters remotely.

For example, it can tell a scooter light to flash via a tap on the Wind app so that users and operational personnel can spot the scooter more easily at night. “We can change the speed limit of the fleet in each city or certain scooters via our servers. We also limit the speed to zero via the communication module once a scooter is taken outside of the operating area,” adds Wang.

Like other European players in the space, Wind says it works in co-operation with local governments, with the goal of solving mobility problems and reducing congestion in urban areas.

“The scooter market in Europe is still relatively new,” says the Wind CEO. “The bigger competition is still to convert more users from using cars to using scooters along with public transportation. We are at the forefront of this transformation. We look forward to working with cities and authorities to serve this growing demand”.

HyperSurfaces turns any surface into a user interface using vibration sensors and AI

Imagine any surface, such as a wooden table, car door or glass wall, could be turned into a user interface without the need for physical buttons or a touch screen. That’s the ambition of HyperSurfaces, the London startup originally behind the Mogees line of music devices and software, which today is unveiling what it claims is a major breakthrough in UI technology.

Dubbed “HyperSurfaces,” the new technology, for which the company has four related patents pending, combines vibration sensors and the latest developments in machine learning/AI to transform any object of any material, shape and size into an intelligent object able to recognise physical interactions.

Equally important is that once trained for a particular object, the HyperSurfaces neural network-trained algorithms are able to run on dedicated microchips that don’t require connection to the cloud for processing. This means that gestures can be instantly recognised and in turn trigger specific commands entirely locally and at much lower cost.

The idea, co-founder and CEO Bruno Zamborlin tells me, is to merge “the physical and the data worlds” in a more seamless way than has been previously possible, ridding us of unnecessary keyboards, buttons and touch screens.

“The HyperSurfaces algorithms belong to the current state of the art in deep learning research,” he explains. “On top of this, the computational power of microchips literally exploded over the last years allowing for machine learning algorithms to run locally in real-time whilst achieving a bill of material of just a few dollars. These applications are possible now and were not possible 3 or 5 years ago”.

Zamborlin says it is difficult to imagine what the applications of HyperSurfaces technology might end up being, in a similar way as it was difficult to imagine all of the applications a mobile phone could enable ten years ago. The most immediate ideas include the possibility of creating technological objects made of materials that until now haven’t been associated with technology at all, such as wood, glass, and different kinds of metal etc.

“Imagine a new wave of 3D wooden IoT devices,” he says, only half jokingly.

This could result in a wooden kitchen table becoming the controller for your living room smart lights and smart thermostat. Or perhaps your home’s floor becomes an advanced security system able to accurately distinguish the steps of a thief from those of your cat. HyperSurfaces has also already seen a lot of interest from car manufacturers.

“Other initial applications will probably include accommodating the desire of car manufactures to eliminate buttons and switches from their car doors and cockpits creating a brand new experience for the user,” adds Zamborlin. “We are used to flat plastic surfaces, but this won’t be a requirement anymore”.

HyperSurfaces team

To get this far — the video demos are very impressive and can’t help but fire your imagination — HyperSurfaces (then called Mogees) raised $1.1 million in seed funding about a year ago and has been head down ever since. This included Zamborlin recruiting a team of top AI scientists and completely re-focusing on research and development. “They are all from Goldsmiths [University of London], like myself, where we specialise in the niche of AI for real-time interaction,” he says.

‘Cloud canteen’ startup Feedr raises £1.5M to provide office workers with a healthier lunch

Feedr, a food tech startup that delivers healthy and personalised meals to office workers as an alternative to companies setting up their own canteens, has picked up just over £1.5 million in pre-Series A funding.

The round is led by London early-stage venture capital firm Episode 1. Also participating is Brent Hoberman’s Founders Factory, and angel investors Errol Damelin (Wonga founder and renowned fintech investor), Richard Glynn (former Ladbrokes CEO and Founder of Alinsky Partners), and David Pritchard (founder of OpenTable Europe).

Launched in 2016 by Riya Grover and Lyz Swanton, Feedr describes itself as an “intelligent lunch platform” or “cloud canteen”. The startup essentially operates a two-sided marketplace that connects healthy food suppliers with office workers at companies, in addition to arranging delivery.

To do this, Feedr publishes a “unique rotating menu” every day and asks workers to choose what they want to eat by 10.30am. It then pools those orders and sends them to the food suppliers it works with, who are mostly artisan and independent food producers, ready for delivery at lunch time.

The technology behind Feedr handles logistics planning, in terms of predicting and helping to manage demand for each meal on offer from specific suppliers. There is also a large emphasis on personalised recommendations based on the preferences of individual customers and their order history.

Food suppliers include Deliciously Ella, Farmstand, We Grill, Potage, and Maple & Fitz. Feedr works with a number of sub-contracted platforms to do the deliveries.

In a call, Feedr CEO Riya Grover told me the food tech startup has thus far mainly employed a B2B2C strategy by working directly with companies who want to offer their own “cloud canteen” as a perk provided to employees and as part of an employee wellness strategy. This sees each company that signs up with Feedr subsidise the cost of items on the menu so that workers can have a fresh healthy lunch daily for under £5, or cover the cost entirely.

To date, Feedr has fed employees at over 400 companies including AirBnB, Etsy, DHL, and PwC.

Grover also talked up Feedr’s tech that she says enables “dynamic menu building,” something she likened to a Netflix for food. When an employee selects a meal, Feedr feeds back these choices to its algorithm to create a more data-informed menu going forward. In other words, menu choices become more personalised the more employees use Feedr.

More broadly, Grover says Feedr is aiming to cater to three trends: on-demand food delivery, as pioneered by the likes of Deliveroo and Uber Eats; employee wellbeing as part of a company’s recruitment, retention and broader HR strategy; and the way consumers are becoming more accustomed to greater choice and healthier options.

Meanwhile, I’m told the funding round will be used by Feedr to invest in its technology to improve the online user experience, expand the choice of healthy meals and build out the machine learning that powers personalization. The company also plans to increase its sales force and expand outside of London.

Adds Damien Lane, Partner at Episode 1 Ventures: “Feedr’s strong brand values address the rise of the conscious consumer with a greater awareness of ingredient quality, artisanal producers, food provenance and the impact of food consumption on health. The team brings incredible execution skills with a passion for shaping healthier futures”.