Milan, Italy-based B2B startup making the supply chain for food service and food retailers more efficient and sustainable, Quisto raised EUR 800K in pre-seed funding. The round took place on March 24, 2023. Major Italian Family Office in the food industry, StartupGym and various angel investors led the financing for the company.
Purpose of financing for Quisto
With the latest investment from the pre-seed round, Quisto plans to continue investing in technology. It also intends to expand its customer base. Meanwhile, it seeks to optimise the range of services offered to various operators in the supply chain.
In addition, the company has plans to improve its go-to-market efficiency.
What the co-founder has to say
Pietro Bini Smaghi, the co-founder of Quisto, said, “The goal we set ourselves is to change the buying habit of retailers and restaurateurs. The real achievement will be in making the buyer’s experience interactive and without friction, reducing costs and offering greater value”.
In addition, Stefano Raffaglio, co-founder of Quisto, said, “The retailer looks for the price but wants the service, the variety, the courtesy; the agent must be helped to become a brand ambassador, a point of sale consultant; the dealer must evolve the business by making it more efficient and data-driven.”
What the lead investor has to say
Giuseppe Balzano, Partner at StartupGym, further added, “At StartupGym, we have developed a strong investment thesis on the out-of-home distribution market, which we estimate to be worth 17 billion in Italy alone and 180 billion in Europe. The supply chain has yet to see any technological innovation, the market is dominated by evasion and cash transactions, and the logistics are poorly optimized at the expense of the environment and cities. We believe there is room to disrupt and build a sustainable and innovative model.”
About the company
Stefano Raffaglio and Pietro Bini Smaghi launched the company in 2022. The company makes supply chains more efficient and sustainable by bringing the Hotellerie-Restaurant-Café market into the digital age. The platform is tailored according to food retailers, such as bars, restaurants, and shops. It gives them access to a more efficient digital platform to place their orders. The service is available 24/7 as well as offers access to a wide variety of products.
Meanwhile, the platform helps users scale commercial activities and improve customer relationships. Since its inception, the Italian innovators have counted more than 2000 orders placed by retailers. Moreover, the retailers have access to a catalogue of more than 5,000 products.
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