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The corporate drop-off catering sector is set for transformation as startup Spoonfed announces £585,000 investment to further develop industry-first end-to-end software.
Spoonfed launched in 2013 when founders Willie Biggart and Murray McNicol, previous owners of a ‘meeting room food’ catering business, sought a solution to an industry trend of administrative disorganization and avoidable mistakes.
The software was developed to improve efficiencies, save time, reduce mistakes, and increase margins and can help businesses unlock new markets, in one case boosting monthly revenue from £7,000 to £70,000 and increasing average order values by 25 percent.
To date the catering software has been provided to high-street chains, independent sandwich retailers, and contract caterers throughout the UK along with contracts in USA, Canada, and Australia.
Managing drector of Spoonfed, Willie Biggart says, “This software could really transform the catering industry, which is currently using traditional processes that are clumsy and often lead to errors and missed opportunities.
“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 organization to Spoonfed.”
The funding from angel investment syndicate Equity Gap, private U.S. and Channel Islands investors, and the Scottish Investment Bank, the investment arm of Scottish Enterprise, will enable Spoonfed to penetrate international markets and accelerate growth.
Jock Millican of Equity Gap says, “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.”
Head of the Scottish Investment Bank, Kerry Sharp says, “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."
Spoonfed is a cloud-based system for single and multisite catering management used for online ordering, production planning, route planning, invoicing, email marketing, and bringing together these logistics in one integrated solution.
Equity Gap is a business angel syndicate, actively investing and co-investing in early stage Scottish-based companies.