Following an 8X growth during the pandemic, Metrobi secures funding to empower local food and beverage makers in the post-lockdown economy
Metrobi.com, a tech-powered fulfillment solution for local food and beverage wholesale, announced their Seed round led by 212 with additional institutional funding from Techstars. Previous investors include Walnut Ventures, TBD Angels as well as notable angel investors.
BOSTON, Aug. 5, 2021 /PRNewswire-PRWeb/ -- Metrobi provides the leading technology-powered delivery network for local wholesale: delivery of bulk products from local food & beverage makers to grocery stores, restaurants, and cafes. Metrobi enables local businesses such as breweries, bakeries, coffee roasters, and beverage makers to launch and grow their wholesale offerings.
Metrobi.com, a tech-powered fulfillment solution for local food and beverage wholesale, announced their Seed round led by 212 with additional institutional funding from Techstars. Previous investors include Walnut Ventures, TBD Angels as well as notable angel investors.
Metrobi's vision is to be the one-stop-shop solution for local food and beverage wholesalers. Local business owners start their businesses because they want to make the best products in the market. However, they are not delivery or fulfillment experts. Metrobi aims to close the gap with its wholesale fulfillment solution and help them grow.
It is a unique time for the industry. Metrobi's solution is critical for the recovery of local food and beverage makers in the post-lockdown world. Since the COVID19 outbreak, Metrobi grew its customer base by 8X and launched its service in the New York market.
Metrobi has enabled businesses to expand their wholesale offerings to new geographies. It has enabled others to launch wholesale offerings, driving in additional revenue. Matt Malloy, the owner of Dorchester Brewing Company, is one of the Metrobi customers that launched a wholesale offering amidst COVID19: "Without Metrobi, we wouldn't be able to reach as many customers so easily and provide a flexible delivery option. We are now selling to wholesale accounts. We did not have access to that earlier because we had no delivery system."
Local makers provide a substantial portion of products at restaurants, cafes, and grocery stores. The demand is driven by the consumer preference for authenticity, quality, and freshness. Although technology has innovated consumer delivery markets, wholesale(B2B) markets remain underserved.
Metrobi is an alum of the competitive Techstars Boston accelerator. This funding round will serve to expand Metrobi's solution into new markets and build additional technology for its customers.
For more information, please visit metrobi.com
About 212
212 invests in growth stage tech companies across Turkey, CEE, and MENA. Currently, their fund manages €75 million of committed capital, and 24 investments. 212's strategy is to invest in B2B tech solutions that have demonstrated traction, a clear product-market fit, and are ready to scale internationally. 'Test local, go global' is 212's guiding principle. In addition to investing in startups, 212 puts significant effort into mentoring, supporting and advising their portfolio companies. 212's Fund I, US$30 million, invested in 12 companies with US$490 million value created. Celebrated winners from Fund I include Iyzico and Insider. Iyzico exited in 2019 with a US$168 million valuation, returning the entire invested capital. Insider is a Sequoia-backed company, having recently closed another round of investment with a US$200 million valuation. Fund II is invested in 12 companies to date: 123 Form Builder, AppSamurai, Artboard Studio, Avatao, Chooch AI, Fazla Gıda, MallIQ, Marti, Meddy, Metrobi, OMMA, and SmartMessage. Final close ended in August 2020 with the fund size at €49 million. 212 was founded by Numan Numan and Ali Karabey in 2012. Their team is based out of Istanbul, Turkey and the region. https://212.vc
About Techstars
The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 2,500 companies with a combined market cap of more than $209B. http://www.techstars.com
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