Vilnius-based FoodTech startup Saltz has successfully closed a $23 Million Series A funding round to modernize the food supply industry. The company aims to digitize the traditionally fragmented and offline food distribution sector through its B2B marketplace. This significant investment, led by prominent European VCs, will fuel the platform's expansion and technological development across the continent.
Addressing a Fragmented Industry
The European food distribution sector has long been characterized by significant inefficiencies and a reliance on outdated, manual processes. Restaurants frequently navigate a complex network of multiple distributors, facing limited pricing transparency and time-consuming ordering methods. This fragmentation not only creates operational hurdles for kitchens but also inflates margins through layers of intermediaries.
Saltz addresses these systemic challenges with its comprehensive digital marketplace, connecting professional kitchens directly with a network of verified food suppliers. The platform consolidates supplier catalogues, ordering, payments, and logistics into a single, user-friendly interface available on browsers and mobile apps. By centralizing these functions, Saltz streamlines the entire procurement process for its users.
Strategic Investment for European Expansion
The $23 Million investment was co-led by the European Bank for Reconstruction and Development (EBRD), Inovo.vc, Lifeline Ventures, and Change Ventures. The round also attracted strategic angel investors, including Vinted founder Mantas Mikuckas and Wolt founder Miki Kuusi, alongside several Shopify executives. This backing from industry leaders underscores confidence in Saltz's mission to transform a major global industry.
With this new capital, Saltz plans to accelerate its expansion across Europe and enhance the technology that underpins cross-border food trade. The company will focus on improving the platform experience for both chefs and suppliers, making procurement simpler and more efficient. These funds are earmarked to scale operations and solidify the company's presence in new and existing markets.
A Vision for a Global Marketplace
The founding team at Saltz brings a wealth of relevant experience from their time building global B2B marketplaces at Oberlo and Shopify. This deep expertise in creating scalable digital platforms is now being applied to the food distribution industry, one of the largest sectors still operating primarily offline. Their background provides a strong foundation for building a robust and globally competitive marketplace.
Co-founder Andrius Slimas emphasized the company's goal to create a transparent and simple marketplace that directly connects chefs with suppliers. This vision aims to eliminate the wasted time and inflated costs associated with traditional intermediaries. Currently operating in 20 countries, the platform already provides chefs with access to thousands of fresh and frozen meat and seafood products.
Future Growth and Team Building
To support its ambitious growth plans, Saltz intends to significantly expand its team over the coming years. The company aims to hire more than 100 new employees by the end of 2026, strengthening its core operational capabilities. Key areas for recruitment will include engineering, product development, sales, and operations to drive platform innovation and market penetration.
This Series A funding marks a pivotal moment for Saltz, positioning it to disrupt the conventional food supply chain in Europe. By leveraging technology to foster transparency and efficiency, the company is poised to empower both restaurants and suppliers. As Saltz expands its reach and enhances its platform, it is set to play a crucial role in the digital transformation of the global food industry.