W23 invests in ‘game-changing’ startup Spoon Guru
London-based AI powered food search and discovery technology startup, Spoon Guru, has announced a Series A funding round involving W23, the VC arm of Woolworths Group.
It did not reveal exact funding details, but said it was a multi-million dollar investment that will be used to expand its footprint with retailers across APAC, North America and Europe. Spoon Guru will also use the cash for product innovation both in-store and online.
Markus Stripf, Co-founder, Spoon Guru, whose board is headed by Chairman and ex-Asda CEO, Andy Clarke, comments: “With governments worldwide launching campaigns to tackle obesity and related lifestyle diseases, consumers are now thinking about how food impacts their health and wellness.”
“There is a desire from shoppers for healthier choices and with a significant swing to online shopping, grocery retailers have the opportunity to use technologies like Spoon Guru to drive and scale healthier baskets.”
“It is our mission to provide retailers with the tools they need to ensure healthier food discovery, thereby improving basket sizes and values and in turn driving customer loyalty and growth for our partners. The funding will ensure we can further develop our product suite and expertise in driving towards this goal.”
Ingrid Maes, Managing Director at W23, comments: “Our investment in Spoon Guru fits perfectly into our portfolio of strategic partnerships with game-changing startups that are helping to shape the future of online retail.”
“Spoon Guru’s specialist algorithms are already meeting the health goals and dietary requirements of millions of Woolworths’ customers. Our partnership model will give its team the freedom to continue doing what they do best, while also helping Woolworths differentiate its offer and accelerate the Group’s ability to meet the changing health needs of customers.”
