Spanish AI startup, Burger Index, has recently announced that it has raised $1.3 million in seed funding, which the company plans to use to expand its operations in the GCC region. Flat6Labs, a leading venture capital firm in the MENA region, led the funding round, which helped the company through its Ignite program. Burger Index, founded in Spain in 2022, provides data analytics for the F&B sector, enabling restaurants, cloud kitchens, food brands, and distributors to see everything that happens in the market in real time.
One of the key selling points of Burger Index is its ability to help F&B businesses go to market faster, allowing them to spend less time on strategy and more time on execution. The company’s customers include McDonald’s, Nestle, Reef Technology, Allo Beirut, and Majid Al Futtaim. They use Burger Index to answer critical questions about where to open their following location. With the funding, the company plans to expand its team and data coverage to include digital groceries and supermarkets.
The F&B industry is highly competitive, and data collection has always been a manual process, making it challenging to make business decisions on new products, pricing, promotions, and locations. This makes the industry data dark, and tools like Burger Index help businesses go to market faster. By generating insights for the F&B sector in seconds, Burger Index finds itself at the intersection of three markets that are experiencing growth: data analytics, location-based services, and restaurant tech, which is projected to reach $342 billion by 2027.
Within four months of launch, the Spanish AI startup is available in 7 countries across Europe and the GCC region. The company’s AI extracts insights so that businesses can go to market faster. With the latest funding, Burger Index plans to expand its operations in the GCC region and include digital groceries and supermarkets in its data coverage. By providing real-time data analytics for the F&B sector, Burger Index is poised to become a valuable platform for F&B businesses looking to gain a competitive edge in an industry that is highly competitive and constantly evolving.
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