# Foodbomb

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/foodbomb-pty

- Industry: Software
- Headquarters: Sydney, Australia
- Website: www.foodbomb.com.au
- Total disclosed funding: $4.4M
- Latest round: Series A (Mar 1, 2021)
- Investors on record: 7

## About

Foodbomb Pty Ltd is an innovative wholesale marketplace that enhances the food supply chain for restaurants and food service businesses, facilitating efficient procurement through its user-friendly platform.Foodbomb Pty Ltd, founded in 2016 in Sydney, Australia, operates as a wholesale marketplace aimed at streamlining the food supply chain for food service businesses. The company was co-founded by Josh Goulburn and Paul Tory, who is also the current CEO. Foodbomb raised AUD 4.155 mn in its latest funding round on 21 September 2023, with total funds raised amounting to AUD 4.155 mn and a current valuation of AUD 36.324 mn. The investor group for this round includes Amb Ventures Pty Ltd, Decadesventure Pty Ltd, Mainstream Fund Services, and iPartners Pty Ltd.Foodbomb operates as a comprehensive wholesale marketplace designed to streamline the food supply chain for restaurants and food service businesses. Its core offering includes an ordering platform that connects users with a diverse range of trusted suppliers, facilitating the procurement of thousands of food products. The platform emphasizes price transparency, allowing users to compare costs across various suppliers and optimize their purchasing decisions. Additionally, Foodbomb provides tools for administrative efficiency, such as invoice reconciliation through integration with accounting software like Xero, enabling customers to save significant time and resources. The company primarily serves small to medium-sized food service businesses, including restaurants, cafes, and catering services, across various geographical markets in Australia and New Zealand.Foodbomb’s revenue model is primarily structured around transactional fees from suppliers, who pay a commission based on orders facilitated through the platform. This allows Foodbomb to provide its services to food service businesses at no upfront cost. The company engages in B2B transactions, where restaurant owners utilize the platform to place bulk orders from multiple suppliers, simplifying their procurement process. Each transaction is executed through the online marketplace, enabling users to access a range of products and manage their orders in a centralized location. Foodbomb’s business model is designed to enhance the buying power of small businesses while ensuring suppliers receive a steady stream of orders and payments, effectively fostering a collaborative ecosystem within the food supply chain.In September 2023, Ordermentum Limited Pty Ltd acquired Foodbomb Pty Ltd for an undisclosed amount, valuing the combined entity at USD 100 mn. The acquisition is expected to accelerate Foodbomb's growth and expansion into new markets. Future strategies include the launch of new product features aimed at increasing user engagement and operational efficiency, as well as targeted expansion into additional regions in Australia and New Zealand, though specific timelines have not been disclosed.

## Funding rounds

- Series A, Mar 1, 2021, $3.5M — Platform Venture Capital, EVP, Gandel Invest, Aura Ventures, Athletic Ventures, iPlatforms, One Managed Investment Funds Limited
- Series A, Jan 31, 2019, $0.9M — EVP

## Investors

- EVP (https://capitalatlas.ai/funds/evp) — Series A
- Platform Venture Capital — Series A
- Gandel Invest — Series A
- Aura Ventures — Series A
- Athletic Ventures (https://capitalatlas.ai/funds/athletic-ventures) — Series A
- iPlatforms — Series A
- One Managed Investment Funds Limited — Series A