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Galley Solutions, a foodtech software company that’s working to help businesses stop wasting food—and money—announced on Friday that it scored some $$ of its own, raising $14.2 million in Series A funding.
- The round was led by Astanor Ventures, with Zetta Venture Partners also participating, and brings its total funding to $20 million.
- The company said it will use the capital to add staff in sales and engineering.
Galley developed a kitchen-productivity platform that helps food businesses—including foodservice, restaurants, ghost kitchens, and DTC platforms—track operations data to guide purchasing and reduce waste and labor costs.
- CEO Benji Koltai was previously an engineering manager at food-delivery platform Sprig, which shut down in 2017, and co-founded Galley that year with brother-in-law Ian Christopher.
“The standardization of food data into a universal language is the next major technology shift that’s changing how food is planned, prepared, and profited from across the industry,” Koltai said in the funding announcement.
K.C. Alfred
Waste not: With partners like DoorDash Kitchens, Thistle, and &pizza, the company said it grew subscription revenue by 280% last year, with 146% net dollar retention in Q1.
- Galley said it’s helped its partners slice their food waste by 25%.
Restaurants, grocery stores, and foodservice companies contribute to 40% of food waste in the US. But when a biz loses food, it also loses $$: According to a study by ChefHero, food-waste prevention strategies could save foodservice businesses ~$2 billion a year in profits.—EC