LONDON–(BUSINESS WIRE)–Vita Mojo, the European leader in front-of-house restaurant software that powers digital ordering and management of smarter, more efficient kitchen and delivery operations, has raised US$30 million new financing to refine its product and expand into new markets.
The funding round was led by global technology investment firm Battery Ventures, an investor in a number of US restaurant and hotel technology companies, including Olo* and CrunchTime! Information system*. Battery General Partner Morad Elhafed and Director Zak Ewen will join Vita Mojo’s Board of Directors. Vita Mojo – which sells to restaurants, pubs, cafes, bakeries and fast food outlets – has major chains among its customer base, including Nando’s, GAIL’s Bakery, Le Pain Quotidien, LEON, JKS Group and Neat Burger.
“The headwinds and opportunities facing restaurants today are enormous. Operators are adapting to changing customer dining and ordering preferences as well as monumental market disruptions – first the pandemic and then supply chain disruptions and a labor shortage. This has dramatically changed how restaurants operate and squeezed profit margins for those not able to adapt,” said Nick Popovici, CEO of Vita Mojo., who initially founded the company as a chain of healthy restaurants and then branched out into restaurant software.
Recent research from Vita Mojo shows that more than four-fifths (84%) of Gen Z and Millennials (82%) would rather visit a restaurant with self-service kiosks than one without. According to Popovici, “digital transformation is essential for the hospitality industry today, and our technology is helping businesses move forward.”
Vita Mojo also announced new technology that enables restaurant customers to make better food choices while dining out. A new feature built into the company’s technology allows restaurants to accurately and transparently display nutrition and allergen information on their menus by pulling data directly from recipe management software. A UK-wide survey conducted by Vita Mojo earlier this spring found that 43% of customers would be more likely to eat at a restaurant with calorie labeling on the menu.
Vita Mojo is based in London and serves over 130 operators across the UK and Europe. The company’s platform enables restaurants to manage their core operations in one integrated system, from digital ordering through their own channels and third-party delivery platforms – such as Just Eat, Deliveroo and Uber Eats – to a smarter kitchen and back room management. Unlike most hotel technology providers that specialize in one piece of the restaurant technology stack, Vita Mojo is a powerful, comprehensive platform that brings together both guest orders and kitchen operations.
For customers, Vita Mojo enables self-service ordering from kiosks and customers’ own devices, as well as a more efficient take-out experience. On the restaurant management side, it allows operators to seamlessly integrate all ordering channels into a single system. Vita Mojo customers see a 35% increase in average order value and an average reduction in labor costs of up to 40%.
“With the funding round complete, now is the time to act,” said Stefan Catoiu, co-founder and COO of Vita Mojo. “This investment will accelerate our product roadmap, help upgrade our data and insights capabilities, and grow our customer success, product, and engineering teams. We are on track to double our headcount in Over the next year, the majority of our hiring will focus on improving our customer service.
Restaurants are now realizing that they can see a significant increase in revenue with an integrated multi-channel ordering system, given the surge in delivery and takeout orders that has survived the pandemic. The vast amounts of data generated by Vita Mojo’s technology, from order to invoice, helps restaurants better serve customers and build loyalty by personalizing their experience and offering one-to-one marketing based on previous order activity .
“Vita Mojo has a bold vision for the restaurant industry,” said Battery’s Morad Elhafed. “Offering a platform that combines digital ordering with kitchen operations is a valuable proposition that solves the headaches of managing multi-point solutions and systems. Our experience in restaurant technology in the United States makes us excited about Vita Mojo’s opportunity in Europe – and its overall mission to take restaurants to the next level by simplifying their operations and delivering a remarkable customer experience.
*For a full list of all of Battery’s investments and exits, click here.
About Vita Mojo
Vita Mojo is a software company that is revolutionizing the hospitality industry. Founded in 2016 by Nick Popovici and Stefan Catoiu, Vita Mojo started life as Britain’s first cashless, cashier-less and digital-only restaurant. They used their experience to create and refine Vita Mojo’s comprehensive technology platform, which combines everything a restaurateur needs to thrive: award-winning digital ordering, point-of-sale, delivery and order management, kitchen operations and tools. marketing and growth. Today, more than 130 operators in 5 countries (including LEON, Nando’s, Le Pain Quotidien and GAIL’s Bakery) use Vita Mojo to increase sales, streamline operations and create remarkable customer experiences.
About Battery Ventures
Battery partners with exceptional founders and management teams to grow category-defining businesses in markets such as software and services, enterprise infrastructure, consumer technology, healthcare IT and industrial technology/life science tools. Founded in 1983, the firm supports businesses at all stages, from seed to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, London New York and Tel. Aviv. Follow the company on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery portfolio companies here.