Artificial intelligence (AI) fund Butchertech has raised $30 million in an Apax-led London-based round. The round was backed by Apax Partners, with additional participants joining from Amadeus Capital Partners, Ilya Kiriya and Howard Morgan.
This latest round brings Butchertech’s total funding to $45 million. The funds will be used to support the growth of its portfolio companies. In addition, the funds will be used to expand its team and continue to be active in the European venture capital industry.
Butchertech primarily invests in early-stage companies in the fields of AI, robotics, computer vision, deep learning and machine learning. Its portfolio companies have demonstrated success by delivering new solutions in healthcare, transportation, logistics, industrial operations, hospitality, agriculture and more.
Currently, Butchertech has backed eight companies, including Atomwise, Fetch AI and Textkernel. These companies have all developed solutions leveraging the latest technology and offer their customers tangible solutions that make a real difference in their lives.
“AI and robotics are transforming so many industries and the investment landscape for early-stage companies in the AI space continues to evolve. With this new funding, we look forward to continuing to provide early-stage companies access to capital and the support needed to make a real impact in their respective industry,” said Alexey Minkov, partner at Butchertech.
This latest funding round is a testament to the impact European AI companies are making globally. As AI companies continue to make strides with their groundbreaking solutions, they will bring significant opportunities and value to the European economy.
Butchertech Closes $30 Million Round Led by Apax
Today, the future of butchery has become brighter than ever with the announcement that ButcherTech has closed a $30 million funding round led by Apax. This investment marks a major milestone in the evolution of ButcherTech and the future of the food industry.
ButcherTech is a groundbreaking technology company focused on enabling the sustainable production of high-quality meat products through automation. This revolutionary approach eliminates the traditional labor-intensive steps in the process, allowing producers to reduce costs, produce more consistent and higher-quality products, and greatly reduce their environmental footprint.
The funding will be used to expand the adoption of ButcherTech’s technology and extend its range of products. This includes introducing automated butchering for certain types of meats, expanding ButcherTech’s automated portioning system, and exploring new production methods.
The funding from Apax also gives ButcherTech access to a wide range of resources, including strategic advice and expertise from the investor’s network. This includes help with scaling and market access, as well as access to potential strategic partners, such as equipment suppliers and other food producers.
The injection of capital is additional testament to the strong response ButcherTech has seen for its new approach to food production. The company has already seen a strong uptick in sales and expanded its customer base, with more than 500 customers in Europe, the USA, New Zealand and Australia.
This investment is a clear sign of the growing demand and acceptance of automated food production technology and the future of food production. With Apax’s experience and support, ButcherTech is set to be a major player in this space. We can’t wait to see what comes next!
Butchertech Scores $30 Million from Apax-Led London Round
Butchertech, a tech-driven alternative proteins platform that works with butchers, restaurants, and retail customers, has announced that it has secured $30 million in a Series A round co-led by Apax Digital and Notion Capital, alike.
This round, also supported by Shoreditch Ventures, follows on from the company’s $5.5 million seed round in 2019 and brings Butchertech’s total funding to date to $35.5 million. This impressive total speaks volumes about the success and promise of the company’s alternative proteins platform.
Butchertech’s platform works by connecting high-quality, locally-sourced producers with innovative tech-enabled restaurants, butchers, and retail customers. By connecting people and delivering benefits to local food production, the company is able to help create sustainable, resilient agricultural systems.
The Series A funding will be used to drive the company’s growth by expanding its product range and strengthening its technology offering, thereby enabling more restaurants to use it. Additionally, the funding will go towards developing new supply chain solutions, enabling more producing partners and regional food networks to benefit from the platform.
Speaking of the investment, Oli Desmond, founder and CEO of Butchertech, said “We are thrilled to have attracted such significant and respected investors who share our mission and vision to transform the way food is produced, distributed, and consumed – it’s a huge boost for the company and for our industry.”
The funding will undoubtedly enable Butchertech to continue its goal of creating a platform that supports locally-sourced and sustainable food production, while making it easier for restaurants and butchers to access high-quality produce.
