FoodOp raises EUR 5 million to bring AI to professional kitchens still running on spreadsheets and pen & paper

As exclusive financial advisor to FoodOp, the SaaS co-pilot for professional chefs, KPH 31 is proud to have advised on the successful completion of a EUR 5M seed round to fuel international expansion and simplify kitchen operations.

The round was led by US venture capital firm MK Capital, with participation from existing FoodOp investor, The Footprint Fund and will support FoodOp’s expansion into the UK and US.

Foodservice is a EUR 2.6 trillion global industry, yet up to 70% of businesses still manage procurement, menu planning, and budgeting manually using spreadsheets, Word documents, or pen and paper. At the same time, food waste is one of the world’s largest climate challenges, accounting for an estimated 8% of global greenhouse gas emissions and costing EUR 800 billion annually. And with staff shortages, rising costs, and manual workflows chefs are left spending too much time on administration instead of delivering great food.

Mark Koulogeorge, Managing Partner at MK Capital, says:

“Foodservice is one of the largest and least digitized industries globally, and FoodOp is uniquely positioned to become a category-defining company.“

By combining an intuitive interface with AI-driven automation, FoodOp simplifies kitchen operations while reducing the administrative workload, food costs, and CO2e emissions through reduction of food waste.

Nichlas Saul, Co-founder and CEO of FoodOp, says:

“Our role model is Canva. Canva made design accessible to everyone, not just specialists. FoodOp does the same for kitchens; giving every chef a simple, intuitive way to save time, reduce costs, and focus on great culinary experiences.“

FoodOp has more than doubled its revenue and user base in each of the past two years and works with leading contract caterers and hotel groups incl. Thomas Franks, a leading family-owned contract caterer, operating more than 350 sites across the UK and Europe.

It is no coincidence that the investment round is led by US venture capital firm MK Capital, which will support FoodOp’s expansion into the US.

North America is rife with opportunities for FoodOp to add value with its proven platform.

Mark Koulogeorge continues:

“FoodOp is exactly the type of European company we are targeting to invest in and bring to North America. An ambitious management team. A model which brings AI to late adopting users and a category (sustainability) in which Europe leads.“

FoodOp expects to double its team over the next 12 months to support its growth and invest heavily in building the best product for professional kitchens.

Mark Koulogeorge continues:

“We are excited to back European founders with a global vison for leadership thanks to Poul, whom we have known for many years and trust for his sharp instincts. FoodOp offers a compelling return on investment for customers, and a superior product offering for users, employees and society as a whole.“

Nichlas Saul continues:

“Poul brings a rare combination of calmness, structure, and a genuine focus on finding the right long-term partners for both the founder and the VC. At one point, a VC partner even reached out asking for another call because Poul was ‘head over heels’ at a conference in his support for us, which speaks to his level of commitment.“

Poul Kotiah Hansen, Founder and Managing Director at KPH 31, says:

“This is exciting times for FoodOp. They are seizing a unique AI window for kitchens that operate without recipes by automating food planning, purchasing and more thereby optimizing operations from the ground up."

To read more about the transaction on Børsen click here.

About FoodOp

FoodOp is a co-pilot for professional kitchens that helps chefs cut food costs, reduce administrative work, and drive sustainability. With FoodOp, chefs can plan and publish menus, manage procurement, and report on sustainability in one place. The company was founded in 2021 by Nichlas Saul and Christian Borkenfelt. Today, FoodOp works with leading contract caterers and hotel groups across the Nordics and the UK, with more than 2,000 chefs across 700+ professional kitchens using the platform daily.

About MK Capital

MK Capital is a Chicago-based venture capital firm focused on high-growth B2B software companies, with deep expertise in procurement, supply chain, and enterprise software. With $500 million in assets under management, the firm has backed category-defining companies across enterprise software. Notable exits include LLamasoft, a supply chain design platform acquired by Coupa Software and Ariba an early leader in e-procurement.

About The Footprint Fund I

The Footprint Fund I is a Danish article 9 venture capital firm that invests in ambitious start up and scale ups driving the green transition. The fund manages €76 million and invests in areas across AI, deep tech, food systems, and biosolutions, with the ambition to build companies that can create global, lasting impact.

About KPH 31

KPH 31 is a boutique corporate finance advisory firm specializing in technology companies. With EUR +500 million in completed transaction value we bring a strong network of strategic and financial buyers, as well as venture and growth investors. Drawing on +10 years of experience in the tech sector, we drive value-creating transactions through expert advisory combining strategic, operational and financial capabilities with skilled deal negotiation.

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