Spoonfed, a Scottish SaaS provider, has raised £585,000 in funding from a group of investors including angel investment syndicate Equity Gap.
The round also drew support from private US and Channel Islands investors and the Scottish Investment Bank.
According to a statement, the money will be used to accelerate international growth across the Far East and Europe and to help make the company profitable.
Managing Director of Spoonfed, Willie Biggart said: “The funding we received last year enabled us to gain traction in the marketplace and determine the strong industry need for this product.
“We’re excited about growing this business because we’ve seen amazing results from customers who have implemented the software into the everyday running of their company and have had very positive feedback about the efficiencies and growth it has brought.
“We’ve taken our time and made sure we have got this right so any business with an interest in corporate catering can easily use the software, giving them more time to focus on what they do best and leaving the organisation to Spoonfed,” he added.
Launched three years ago, after the startup’s founders – Biggart and Murray McNicol – identified the need for a system to drive efficiency in the food delivery market, Spoonfed is currently active in the UK, US, Canada and Australia.
Speaking about the decision to invest in the startup, Jock Millican of Equity Gap, said : “It was clear the founders of Spoonfed had spotted a clear gap in the market and have developed a product that is already proving popular worldwide. The founders’ experience in the industry has led to a product that directly resolves a need and their relentless work to iron out any kinks has produced a business that is financially in good shape within a very short period of time.”
Kerry Sharp, head of the Scottish Investment Bank, concluded:“Spoonfed is a great example of a growing Scottish technology company bringing innovative digital technology to the catering industry. We are pleased to be able to support Spoonfed as it expands its international reach in a market ready for technological enhancement and efficiency.”