Food Rocket, the virtual restaurant start-up founded by Italian entrepreneur Dario Scattarelli, has secured an $8 million pre-money valuation and is gaining the attention of investment and venture capital firms. The company specializes in managing and creating restaurant brands exclusively for home delivery, and has developed a successful business model that includes partnering with existing restaurants to use their kitchens as production points, analyzing data to identify market trends and consumer preferences, and marketing and promotion through digital channels.
Food Rocket is currently in talks with Sequoia Capital, Andreessen Horowitz, and Accel Partners for a $2 million Series A funding round, in exchange for a 20% stake in the company. The delivery market in the United States is expected to grow to $70 billion by 2023, and Food Rocket aims to capitalize on this trend by expanding its presence in the virtual restaurant industry. With the COVID-19 pandemic accelerating the shift to e-commerce, there is a rising demand for home-delivered products, and Food Rocket is well-positioned to provide a wide range of food options to consumers.
As technology continues to play a crucial role in the delivery market’s growth, Food Rocket remains committed to enhancing the efficiency of its operations by exploring new automated delivery solutions such as drones, robots, and autonomous vehicles.
Dario Scattarelli is thrilled to have attracted investment and venture capital funding and says that the additional resources will enable Food Rocket to continue innovating and expanding its presence in the virtual restaurant industry.
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