Nexus Investments Backs Award Winning Health Tech Scale-Up Kafoodle
PRESS RELEASE: London, 14 February 2020.
Nexus Investments are delighted to announce an investment into the award-winning health tech scale-up Kafoodle. This investment represents Nexus Investments’ 75th round of EIS investment since 2014, totalling £12m of EIS invested capital, and is the 9th investment made by the Scale-up Fund, which was launched late 2018 ( www.scaleupfund.co.uk )
Kafoodle is a fast-growing food-tech company that enables commercial kitchens, specifically in hospitals, care homes, schools and corporate catering, to manage the ever-increasing demands of dietary requirements whilst still being able to control margins. Their innovative and easy-to-use SaaS product is already used by large organisations such as OCS, The Compass Group, MHA and HC One, and are now planning to accelerate sales and grow recurring revenues with this new funding round.
Nexus strongly believes that Kafoodle answers an increasingly growing need in society. In the UK alone, there are 532,000 commercial kitchens that need to be compliant on the provision of food allergen information to consumers, and there is also heightened consumer awareness and desire for nutrition transparency. Kafoodle offers an easy and effective solution to these demands.
Furthermore, Kafoodle fits perfectly into Nexus’ Investment strategy; a company primed to scale, led by an entrepreneurial and inspiring team, and is operating at the epicentre of the 4 sectors that Nexus specialise in – Data, Digital, Education & Health. See the rest of our portfolio segmented into sectors below, and more information can be found on either of our websites: www.scaleupfund.co.uk or www.nivl.co.uk
With this new level of funding, Nexus are looking forward to working with and watching Kafoodle grow in the many years to come.
Tarryn Gorre, CEO – Kafoodle:
“We are delighted to welcome Nexus as one of our new investors. They bring with them a wealth of knowledge and experience of the education, healthcare and tech sectors. Securing investment from funds of the calibre of Nexus is a great endorsement of what we have achieved to date and with their support we believe Kafoodle can realise its full potential as a leading food-tech innovator.”
Are you an HNW/ Sophisticated private investor or financial adviser who wants to support some of the most exciting scale-ups in the UK, whilst mitigating your risk through EIS? If so, drop us a message!
About Nexus Investments
Nexus Investment Ventures Limited (NIVL) was founded in 2014 to focus on high-growth entrepreneur-led UK EIS investments following successful investments made by Nexus group over the past 25 years. NIVL take a nurturing approach through active involvement on the board, or advisory board of the company and through the introduction of appropriately experienced investors to help guide these businesses as they scale in the UK, and often globally. Nexus is owned by entrepreneur and financier, Harry Hyman, who in 1996 founded, and is still managing director of Primary Health Properties Plc. PHP is a FTSE-250 listed Real Estate Investment Trust with over £2.3bn AUM itself. Nexus also owns Investor Publishing and runs the International Opera Awards. He was featured in the business section of the evening standard recently.
Now with over £2.3m AUM, the Nexus Investments’ Scale-Up Fund (“the Fund”), continues its route to £10m overall, and addresses a large gap in the market by focussing on three of the most exciting areas of change in the world today, Data, Education and Health. It specifically deploys EIS investors’ capital into a portfolio of 8-10+ UK scale-ups with global ambitions.