Investment

Brazilian food delivery startup Mimic receives $9M Seed round

LatAm ListMimic, the food delivery platform that operates solely out of ‘dark kitchens’, raises R$37.4M (US$9M) in a seed round led by Monashees with contributions from Caray, Valor Capital Group, and various private investors.

The Brazilian VC fund Monashees has previously invested in other logistics startups such as 99, Loggi and Rappi as Brazil seeks to improve its food-delivery networks. Food delivery penetration in Brazil still ranges from 3 to 4%, compared with 20% in the Chinese market.

“[In Brazil,]the delivery time is long, the price is not competitive and the quality of the dishes is still poor. We aim to tackle these 3 issues,” explains Andres Andrade, founder and President of Mimic.

Mimic intends to act as a platform to provide delivery-only ‘dark kitchens’ with the necessary technology, business intelligence, and network which will allow them to operate successfully in the industry. These kitchens exist only to serve delivery services and do not have any sit-down space, saving costs for the customer.

“We intend to build product and data teams that will make delivery journeys more consistent. The aim is to make deliveries with 20 minutes, which is only possible with technological intelligence,” says Andrade. “For example, Mimic might start automatically producing an order if it knows that you always order a certain hamburger on a Thursday.”

Mimic aims to cover all of São Paulo with 8 ‘dark kitchen’ locations by the end of 2020. The funding will also allow Mimic to improve their digital platform to facilitate the delivery process, helping to serve more customers high-quality food at the right value for money.

Read more on Empresas&Negocios.

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