NeoTaste, headquartered in Osnabrück, has successfully raised €5.9 million in a Series A funding round for its restaurant-discovery application, which offers complimentary marketing solutions to restaurant owners.
Utilizing the raised capital, the German startup has outlined plans to extend its presence across additional cities within Germany, make its debut in global markets, and unveil fresh offerings and services within its platform.
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About the Investors
Leading the investment in this Germany-based startup was Burda Principal Investments (BPI), the growth capital division of Hubert Burda Media, a media and technology conglomerate.
In addition to BPI, this funding round also saw participation from existing investors, including Kajetan Uhlig, the founder of Userlane, and Niklas Plath and Christopher Huesmann, co-founders and current CEOs of Flaschenpost.
Friedrich von Wulffen, an Investment Manager at BPI, commented, “The two founders, alongside their streamlined team, have crafted a captivating product. The platform has garnered significant favor among both consumers and restaurants.”
Echoing this sentiment, Julian von Eckartsberg, MD Europe at BPI, remarked, “NeoTaste has displayed impressive growth over the past months, achieving exponential increases in its turnover. This attests to their scalability and robust network effects, positioning them as an ideal partner for us. Furthermore, it underscores the logical progression of their expansion into other German cities and international markets.”
About NeoTaste
Established in 2019 by Hendrik Sander and Tobias Düser, NeoTaste’s application serves as a bridge between patrons and dining establishments. The platform extends exclusive dining bargains to users while assisting restaurants in fostering meaningful interactions with their clientele.
At present, the app operates within 13 cities across Germany, featuring a network of over 1,300 restaurants and catering to around 300,000 users.
Hendrik Sander expressed enthusiasm, stating, “We are truly delighted to welcome BPI as the primary investor in our latest funding round. Having such a reputable and well-regarded investor join us at this early stage of our journey is indeed an honor.”
Sander further noted, “BPI’s extensive expertise in crafting exceptional consumer-centric products, particularly within the domain of marketplaces, is bound to synergize effectively with NeoTaste’s overarching vision and mission.”
NeoTaste inaugurated its app during the height of the COVID-19 lockdowns, with its initial launch occurring in Hannover. Subscribers gain access to exclusive offers, while restaurants leverage NeoTaste as a means of self-promotion, attracting new patrons, and gathering reviews.
