About

Innovative order management tool that connects venues (restaurants, bars, hotels) to suppliers in the FnB sector. The main problem we have identified is that the order management experience for both restaurant owners and suppliers is manual and error-prone, which introduces costly mistakes and inefficiencies. According to one of the largest FnB meat distribution company in Greece "My biggest headache comes from human errors in the order entry or management process which leads to problems further down the supply chain which we ultimately have to incur". One of the sources of the inefficiencies is that there are multiple and sparse communication channels including phone, sms, email, IM platforms and fax, which significantly increases the supply chain coordination costs. According to an interview with Kiosky's, a popular mini-market franchise, “Having to communicate with 50 different suppliers and filling my inventory gap takes almost all of my time”. On average, these inefficiencies cost 70% of one restaurant employee's staffing time. On the supplier's side, 20% slowdown in order management.

Solution & Product

Our aim with Orderit is to revolutionise the Food & Beverage (FnB) industry by creating a modern digital order management tool that drives efficiency and helps both restaurants and suppliers scale. As CEO of Alibaba, Jack Ma, once said “The most valuable businesses are the ones that help other businesses grow seamlessly”. Our product is a web app which lets venues make their orders easily and seamlessly in seconds. The process of onboarding them is straight forward and they immediately have access to their suppliers as well as valuable analytics for their business.

Innovation & Scalability

Our startup is innovative both in its technology and its business model. Firstly, it is employing next-generation UI elements and the most advanced user experience frameworks to provide users a seamless and easy to use interface. In addition, on the backend we use advanced algorithmic methods to organise our databases to enable quick filtering, and use machine learning to come up with dynamic filters that get generated based on the types of products that users upload on the site. These technologies allow us to give our clients a better experience not only visually, but also provide price suggestions and advertised content that will be valuable for their businesses. Secondly, our innovative business model focuses on integrating both venues and sellers with our order management process and allows us to collect data at every step of the process. We then feed useful analytics back to those clients for a price which adds value to their businesses, helps them manage their workforce better and control their cost base. By collecting all the data and using predictive analytics we can develop in-house products, help route logistics more efficiently and make personalised recommendations to clients.

Traction & achievements

Conducted 200 client surveys to collect data market insights Created prospect list of 450+ suppliers Created prospect list of 670+ restaurants Raised 200k in fundraising from a renowned family office and successful entrepreneurs in Greece and internationally including a Techstars mentor and a top-tier financier Completed development of full working product and iteratively adding features Fully onboarded 50 clients Actively receiving orders from half of our clients and growing

Team & Why Us

Alex and George are the two co-founders of the business and the major shareholders. Alex (CEO) is a seasoned technology entrepreneur with a previous exit and with deep full-stack software experience. He has previously acted as Cofounder & CTO of an algo-trading tech startup which was acqui-hired by a tech unicorn. He has previously hired and managed a team of 20+ to create a non-profit social media site which collected 7mn posts. He has a MEng in Electrical Engineering from Imperial College George (COO and head of sales) has a decade of work experience in the hospitality sector and worked in a number of positions in hotels across Greece. He started his own restaurant bar in Athens which quickly came up the ranks and reached $1mn turnover. He also received the Innovation award from eFood for his involvement. Achilleas is leading the Marketing strategy and investor relations, being a Techstars mentor and successful angel investor.

Funding Needs

We closed a Seed round with Genesis ventures to support our businesses needs and help expand geographically. We are always looking for strategic investors who would like to be part of the company’s vision and want to support it.