Published: December 11 2023
Munch, a leading food-saving app in Central-Eastern Europe, has announced its Series A funding round to combat food waste and expand its operations. The app has achieved success in Hungary, the Czech Republic, and Slovakia, and now aims to tackle food waste in Romania and other countries.
Securing Funding from Top Investors
Munch's Series A funding round is led by Piton Capital, known for its investments in industry disruptors like Alibaba and Delivery Hero. The round is co-invested by FJ Labs, a prominent New York-based firm specializing in marketplace investments. The funding also includes support from other notable investors, including Christopher Muhr, co-founder of Groupon, and Kai Hansen, co-founder of Lieferando. The involvement of these investors demonstrates Munch's potential and strengthens its position in the market.
Impressive Growth and Key Partnerships
With over 1.5 million downloads and more than 3,000 partners across Hungary, the Czech Republic, and Slovakia, Munch has established itself as the leader in these countries. The company has experienced substantial growth in the past year and has formed key partnerships with industry giants, such as Starbucks and PENNY. These collaborations have not only expanded Munch's reach but have also proven successful in reducing food waste.
Expanding to Romania
Munch's next frontier is Romania, where approximately 2.2 million tons of food are wasted annually, according to European Union statistics. The company aims to make a significant impact in the region by leveraging its expertise and innovative solutions to combat food waste. The funding secured in the Series A round will support Munch's expansion into Romania, with plans to further expand into countries like Croatia, Slovenia, Greece, Bulgaria, and Serbia.
Munch was founded in 2020 with the mission to combat food waste through technology. The app's platform allows restaurants, bakeries, grocery stores, and hotels to sell their unsold, high-quality food at reduced prices. With the merger of Czech-based app Nesnězeno in 2022, Munch now boasts over 3,000 partners and 1.5 million app downloads across three countries. To date, Munch has saved over 1.5 million food packages in Hungary and the Czech Republic. The company has been recognized for its efforts, winning awards for Sustainable Company of the Year and Food Waste Prevention at the Hungarian National Agricultural and Food Industry Exhibition.
Questions & Answers
What is Munch? Munch is a food-saving app founded in 2020 with the mission to combat food waste through technology.
Where is Munch available? Munch is currently available in Hungary, the Czech Republic, and Slovakia.
Who are Munch's investors? Munch's investors include Piton Capital, FJ Labs, Christopher Muhr, Kai Hansen, and existing investors such as Fiedler Capital, Silicon Gardens, Márton Szőke, Péter Záborszky, STRT Holding, and László Czirják.
How many downloads does Munch have? Munch has over 1,500,000 downloads.
How many partners does Munch have? Munch has over 3,000 partners.
What kind of businesses can partner with Munch? Restaurants, bakeries, grocery stores, and hotels can partner with Munch to sell their unsold, high-quality food at reduced prices.
Which companies has Munch collaborated with? Munch has collaborated with Starbucks in three countries, PENNY in the Czech Republic and Hungary, and has an exclusive presence in every SPAR and INTERSPAR store nationwide in Hungary.
What is Munch's next frontier for expansion? Munch is targeting Romania for its next expansion, where approximately 2.2 million tons of food are wasted annually.
Which countries are on Munch's list for future expansion? Munch plans to expand to countries such as Croatia, Slovenia, Greece, Bulgaria, and Serbia.
Who founded Munch? Munch was founded by Botond Zsoldos, Bence Zwecker, Albert Wettstein, and Kirill Perepelica in 2020.
How many food packages has Munch saved in Hungary and the Czech Republic? Munch has saved over 1.5 million food packages in Hungary and the Czech Republic.
Has Munch received any awards? Yes, Munch has won the "Sustainable Company of the Year" award and the "Food Waste Prevention Award" at the Hungarian National Agricultural and Food Industry Exhibition.