Restaurant delivery e-commerce company Cheetah has announced the completion of a $36 million Series B financinground led by Eclipse Ventures, with participation from ICONIQ Capital, Hanaco Ventures, and Floodgate Fund. This investment brings the company's total funding to $66 million.
Founded in 2015, Cheetah has developed an e-commerce platform offering contactless pickup and delivery of food and supplies. Initially focusing on the wholesale restaurant market, in the current Covid-19 lockdown, the company has extended activities to serve the consumer market. The company has offices in San Francisco and an Israel development center in Netanya.
Cheetah cofounder and CEO Na'ama Moran said, "The positive feedback from the community has been overwhelming. This funding allows Cheetah to build on our strong foundation and expand essential services directly to the consumer. Now, we can provide even more people with the food and supplies they need in a safe and cost-effective way, throughout this crisis and beyond. Our purpose has always been to help independent restaurants thrive. Now we are helping communities thrive."
"This pandemic has shed light on how technology can be used to quickly adapt core services within the food industry like delivery, fulfillment, and supply chains," said Lior Susan, founder and Managing Partner at Eclipse. "Cheetah's team has demonstrated agility and ingenuity on behalf of their customers, and the resiliency of building a technology-centric operation. The company's vertical integration and technology stack have enabled them to accommodate changing buyer behavior as food supply chains shifted from a focus on commercial operations to consumer homes."
Cheetah has been transforming the wholesale food industry, offering transparent pricing to consumers, independent restaurants and small businesses with next-day, contactless delivery for orders placed through its mobile application. Using its fleet of refrigerated trucks, Cheetah delivers everything from bakery items to beverages, dairy, meat, poultry, seafood, fresh produce, condiments, snacks and cleaning supplies.
Originally launched as a wholesale delivery service for restaurants and small businesses, Cheetah built on its existing technology foundation the week prior to California's lockdown order, launching a direct-to-consumer service called Cheetah For Me. This service gives residents and small businesses in the Bay Area safe access to essential food and supplies at competitive wholesale prices. Consumers order through the mobile app and pick up the next day from one of Cheetah's designated drive-through locations.
Published by Globes, Israel business news - www.globes-online.com - on May 1, 2020
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