Pronto, a London-based startup raises $1.6 million is a seed round of funding led by Playfair Capital along with Seedcamp, Boris Johnson-backed London Co-Investment Fund, Ballpark Ventures and Florist Rost van Tonningen.
Founded in 2014, the startup Pronto is a food delivery service that delivers restaurant quality dishes from chefs to your home or office in time span of 20 minutes. Based out of the tech accelerator Mass Challenge, UK, the startup does not only make great food but also reduces the waste by using technology to obtain and deliver the goods. The company claims to get repeat orders for more than five times a months and strongly believes to replace the kitchen like how Uber replaced cars.
Pronto’s co-founder and CEO James Roy Poulter said, “Pronto is building the food infrastructure of the future in a trillion-pound global food market. With intelligent menu design, we are able to move up the supply chain faster, sourcing more intelligently and reducing waste to bring food from the farm to forks faster and therefore fresher.”
Poulter added, “We have been so deeply involved in the problem-quite literally living in it – that no one has been able to build such relevant technology so fast, to solve the real problems of bringing incredible food to our customers.” With the fresh funds, the company plans to scale up its growth and boost its user engagement, penetrate into the market better and expand the current team.
Partner at Playfair Capital, Joseph Charlesworth said, “Pronto is a full stack food delivery business. The amount of technology that have built under the hood is impressive and controls everything from food procurement to processing and delivery. It’s the only way to offer consistent and excellent quality across the entire production and service chain whilst enabling transparency to customer on food ingredients.”
Pronto is not the only one who has adopted this business model, it has competition from Deliveroo, another fastest growing tech companies in London. Also from Rocket another upcoming food tech startup that has recently raised $1.6 billion. But Poulter claims they do not deliver ‘unhealthy’ food that are claimed to be healthy like other companies. Also, Deliveroo charges 23% + VAT whereas Pronto has gone ‘full stack.’ Since they take control of everything from kitchen to delivery, their meals start from as cheap as $12.5 with no minimum order or delivery fee. However, with millions of people eating three meals a day and big potential in the market, every food delivery startups can survive in the market without disturbing the business of the others.