The Colombian foodtech venture, Muy Tech, continues to grow in Latin America and has already taken an important step towards achieving this goal. Recently this company managed to get the attention of a large investor worldwide who injected significant capital that will help this startup to fulfill its expansion plans.
According to José Calderón, CEO of Muy Tech, the venture went back to a round of investors led by ALLVP, based in Mexico, where in a series B round of financing the chain managed to raise US $ 15 million, resources that it will use for its expansion in that country and in Brazil.
“This Series B of US $ 15 million raises the total financing of VERY to US $ 20.5 million and will significantly help you continue your growth, which is already positioned in Colombia and taking its first steps in Mexico”, he said.
ALLVP is the leading venture capital firm in Mexico, was founded in 2012 and has US $ 150 million under management and has invested in more than 30 technology companies in Latin America such as Slang, Fintual and Flat.
Currently, Muy Tech operates 21 experience points in Colombia, one recently opened in Mexico and expects to close 2020 with 150 kitchens between Sao Paulo (Brazil), Mexico City and Bogotá.
According to Calderón, part of the resources will also be used to strengthen the company’s corporate team with the purpose of generating new business lines and increasing operational efficiency to maintain its annual sales growth rate.
This technology platform was launched in March 2018 and seeks to build the tools that restaurants need to optimize their internal processes and their interactions with users. The company currently operates in Colombia and has received investment rounds for more than US $ 20 million.
Also published on Medium.