Lisbon-based Pleez has raised €1.5 million in a seed funding round led by Berlin’s FoodLabs. The foodtech startup is slated to use the funding to further develop its technology stack and advance with pan-European expansion efforts, initially targeting a Spanish market entry.
Built on the premise that restaurants and platforms have hidden gems buried in the menu(s), Pleez employs an AI to squeeze all of the cheese, ultimately resulting in a 25% lift in sales according to the startup.
Analysing menu performance from every angle, Pleez aims to please by providing menu performance and competitor analysis, offering actionable insights that are said to increase revenue and ticket size.
Pleez’s €1.5 million seed round was led by FoodLabs and saw participation from early Gorillas and Choco backers Shio Capital, with existing investors Wisenext and APX following on. Angel investors including the founders of Orderbird also participated.
“Pleez is tackling one of the major challenges in rapidly growing the food delivery market,” commented FoodLabs’ Patrick Huber. “We’re glad to be backing the experienced and highly committed Pleez team to expand their solution across Europe.“