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OrderEZ acquires cocoon capital backed FoodRazor
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Monday, 20 February, 2023, 08 : 00 AM [IST]
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Singapore
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Singapore-based food and beverage operations management platform, OrderEZ has acquired cocoon capital backed FoodRazor, an invoice automation and analytics platform for the food and beverage industry. The acquisition expands its integrated suite of inventory, procurement, and CRM software, fuelling a leap in automation and freeing hospitality operators to focus on their passions and growing their businesses.
Launched in 2021, it delivers a uniquely interconnected software solution providing inventory management, procurement, order, and CRM software for brewers and bakers, restaurants and cafes, and anyone making or wholesaling food or beverage.
In just its second year of operations, the company grew by nearly 300%. Off the back of this growth, the company plans a US expansion in 2023, and a fundraising round. Adding the brand to its existing solution will help accelerate the company’s expansion and elevate its existing suite of tools to its overall customer base.
Michael Blakley, managing partner at Cocoon Capital Partners, who backed FoodRazor in 2018, said, “OrderEZ had been on our radar for some time, and when the teams brought this acquisition to us, we saw the potential and synergy between the two businesses. OrderEZ is on a brilliant growth trajectory, and we feel that adding FoodRazor will only accelerate the company to new heights.”
Jeffrey Meese, co-founder and CEO of OrderEZ, said, “Alfredo Molinas, CEO of FoodRazor and I shared the same mission and ethos for our businesses, so the acquisition of FoodRazor by OrderEZ is ideal. Our mission is to help the world eat and drink better by freeing the food and beverage industry from countless hours spent on admin. Nobody gets into the F&B industry because they love accounting and admin work, but the best operators know it’s essential to success. We’re thrilled to help facilitate the endless creativity and ingenuity that flows through this industry.”
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