Espresso store stock administration and ordering options supplier Odeko has closed a $53 million Collection D funding spherical, bringing the corporate’s whole funding as much as roughly $177 million.
Since its launch in 2019 and a pandemic that spurred cellular and touch-free ordering all through the espresso {industry}, Odeko has expanded its stock administration companies for native supply into 16 United States markets, whereas its e-commerce options can be found all through the nation.
The New York Metropolis-based firm says it has roughly 10,000 shoppers within the U.S., with a concentrate on small espresso companies.
The latest funding spherical contains investments from Amex Ventures, KSV World and FJ Labs, in addition to from present Odeko buyers GGV Capital and Tiger World.
In 2020, the firm merged with fellow coffee-industry-focused software program supplier Cloosiv whereas producing $12 million and relaunching core merchandise beneath the Odeko identify.
Based on an announcement from Odeko immediately, the brand new funding will go in direction of additional expertise growth, scaling operations and coming into new markets.
The corporate claims its stock administration options save companies as much as 21% on prices of products whereas decreasing time spent managing distributors. For its cellular ordering and cost processing options, Odeko costs a 5% payment on transactions.
Does your espresso enterprise have information to share? Let DCN’s editors know right here.
Extra From DCN
>