Rosenheimer Straße 226
81669 Munich
Germany
NeoTaste, the innovative German restaurant discovery app, has successfully closed its Series A funding round, raising a total of €21 million. This milestone marks a significant step in the company's journey to redefine the relationship between restaurants and customers through cutting-edge technology. The funding round was led by Earlybird Venture Capital, one of Europe’s premier venture capital firms, with continued support from Burda Principal Investments (BPI), the independent investment arm of Hubert Burda Media. Existing investors such as Kajetan Uhlig, founder of Userlane, and Flaschenpost co-founders Niklas Plath and Christopher Huesmann also participated in the round[1][4][9].
This latest investment will fuel NeoTaste's ambitious plans for international expansion and product development, solidifying its position as a leader in the GastroTech space. The app has already demonstrated exponential growth since its inception in September 2021, amassing over 750,000 users and partnering with more than 3,000 restaurants across 27 German cities. With this funding, NeoTaste aims to scale its operations further across Europe and introduce new features that enhance digital interactions between restaurants and diners[4][9].
Transforming Gastronomy
NeoTaste was founded by Hendrik Sander and Tobias Düser in 2019 after identifying inefficiencies in traditional restaurant marketing methods during discussions with industry professionals. Their solution—a digital platform that connects restaurants and customers while offering exclusive deals—has proven to be highly effective. The app allows users to discover new culinary experiences through offers such as "two main courses for the price of one," while enabling restaurants to attract new patrons and enhance their visibility[8][12].
The subscription model is priced competitively at €4.99 per month or €2.99 annually, making it accessible to a broad audience[9][11]. This approach ensures that restaurants can participate without financial barriers, focusing instead on delivering exceptional dining experiences.
NeoTaste's rapid growth is evident from its expansion into Amsterdam earlier this year, marking its first foray into international markets[4][8]. By the end of 2025, the app is expected to be available in numerous additional German and European cities, further cementing its status as a market leader.
Strategic Expansion Plans
The €21 million raised in this Series A round will support NeoTaste's ambitious expansion initiatives. The company plans to penetrate deeper into European markets while enhancing its technological capabilities. Upcoming features include direct reservation capabilities, which will streamline the dining experience for users and provide additional value to partner restaurants[4][8].
Earlybird Venture Capital’s Dr. Christian Nagel praised NeoTaste for its innovative approach:
"Restaurant discovery is broken, and no platform has yet combined unbiased searches, attractive discounts, and an efficient booking system. NeoTaste sets out to solve this"[9].
This endorsement highlights the disruptive potential of NeoTaste’s business model.
Burda Principal Investments also expressed enthusiasm about continuing their partnership with NeoTaste. Julian von Eckartsberg, Managing Director Europe at BPI, remarked: "NeoTaste has displayed impressive growth over the past months, achieving exponential increases in turnover. This attests to their scalability and robust network effects"[7][8].
A Bright Future Ahead
NeoTaste’s success story exemplifies how technology can revolutionize traditional industries. By leveraging digital tools to connect restaurants with customers in meaningful ways, NeoTaste is creating lasting value for both parties. The company’s focus on scalability and innovation positions it as a key player in the GastroTech sector.
As an investor in NeoTaste, Uhlig Capital remains committed to supporting the company’s vision of transforming gastronomy through technology. With this latest funding round, NeoTaste is well-equipped to achieve its ambitious goals and redefine dining experiences across Europe.
In conclusion, NeoTaste's €21 million Series A funding round marks a pivotal moment in its journey toward becoming a global leader in restaurant discovery and customer engagement. As it continues to expand internationally and innovate within its platform, NeoTaste is set to shape the future of gastronomy—one city at a time.
Citations:
[1] https://www.eu-startups.com/2024/03/german-restaurant-discovery-app-neotaste-snaps-e21-million-series-a-to-expand-internationally/
[2] https://www.startbase.com/news/59-mio-eur-fur-neotaste/
[3] https://www.eu-startups.com/2023/08/german-gastronomy-app-neotaste-snaps-e5-9-million-to-expand-its-customer-restaurant-interactions-solution/
[4] https://www.pl-talents.com/german-restaurant-discovery-app-neotaste-snaps-e15-1-million-to-go-international/
[5] https://siliconcanals.com/neotaste-raises-5-9m/
[6] https://www.seedtable.com/startups/neotaste-app
[7] https://www.founderstoday.news/neotaste-secure-over-5-million-in-funding/
[8] https://techfundingnews.com/funding-update-neotaste-picks-e15-1m-extension-round-from-lilium-backers-to-strengthen-restaurant-customer-connectivity/
[9] https://tech.eu/2024/03/14/neotaste-secures-eur21m-in-funding-for/
[10] https://startup-osnabrueck.com/news/5-9e-million-funding-fuer-neotaste/?vp_filter=portfolio_category%3Ahealthcare-und-life-sciences
[11] https://www.businessinsider.de/gruenderszene/food/wieder-millionen-fuer-erfolgsverwoehnte-gastro-app-neotaste/
[12] https://www.finsmes.com/2023/08/neotaste-raises-e5-9m-in-series-a-funding.html
[13] https://www.deutsche-startups.de/2024/03/14/dealmonitor-neotaste-mindfuel-ultimate/
[14] https://startup-osnabrueck.com/news/5-9e-million-funding-fuer-neotaste/?vp_filter=portfolio_category%3Aagrar-und-digitales
[15] https://www.linkedin.com/posts/h-sander_launching-neotaste-for-creator-a-huge-activity-7274691708225781760-rc5L
[16] https://siliconcanals.com/de/neotaste-raises-5-9m/
[17] https://www.edibleplanetventures.com/post/neotaste-secures-21-million-in-series-a-funding-to-fuel-expansion-and-innovate-the-gastrotech-space
[18] https://brutkasten.com/artikel/gastro-app-neotaste-verspricht-billigeres-essengehen-in-wien/15
[19] https://brutkasten.com/artikel/gastro-app-neotaste-verspricht-billigeres-essengehen-in-wien/14
[20] https://www.handelsblatt.com/unternehmen/handel-konsumgueter/gastronomie-rabatt-app-neotaste-will-restaurants-neue-gaeste-bringen/29316400.html
