Snackwize secures investment from TechnologyOne founder
Written on the 2 April 2019 by Business News Australia
The founder of one of Brisbane's most renowned tech companies TechnologyOne has injected $0.5 million into a fast-moving startup.
Snackwize, a healthy snack subscription service for Australian businesses, has received funding from tech leader and TechnologyOne founder Adrian DiMarco to scale the business and fuel growth into home delivery.
Founded in 2016 by Conor Reynolds Snackwize has so far successfully caught the wave of clean eating by making it easier for offices to get healthy food into the kitchen.
In three years, Reynolds has signed up around 100 companies to Snackwize including BDO, RMIT, Marriott Hotels, TechnologyOne, Data 3 and Cromwell Property Group.
With the investment from DiMarco Reynolds says Snackwize may soon be able to make some ground on the size of similar companies in the United States. Collectively $1.08 billion was invested into food startups in 2017.
"Food and beverage startups are slowly popping up on Aussie soil yet raising capital in this sector is still in its infancy, so we are very lucky to have this support early on in our journey," says Reynolds.
Reynolds says the VC capital from DiMarco will assist in expanding Snackwize's offering to home delivery, as well as office subscriptions.
"The decision to expand into home delivery follows a strong organic growth in the market and will be a game changer for fitness buffs and busy families on the go," says Reynolds.
"The number of Aussies who eat unhealthy snacks as a meal replacement is alarming, especially when you consider those young professionals in offices today will occupy a large percentage of the workplace by 2025."
"Fruit baskets in the office have been a staple for almost 16 years, yet as the frequency of snacking and the demand for more nutrient-dense food continues to rise, people are looking for more nourishing, plant-based foods they can grab on the fly."
The team is continually researching market trends to ensure the healthiest and tastiest product mix and rotation, with popular brands including Blue Dinosaur, Health Lab, Just Jerky, LuvSum, Shelby's, Piranha, Super Orbs, Googys, Brookfarm, Carman's, Tom & Luke Balls, and more.
Business News Australia
Author: Business News Australia