Canton startup Foodem raises $600000 – Baltimore Business Journal – News Journal Blogs

Foodem fresh raises $600,000.


Foodem fresh raises $600,000.

A metropolis e-commerce concern has upraised $600,000 from angel investors and plans to start a newborn playing and marketing campaign.

Foodem, which created an online activity for edifice owners and farmers to connect, module ingest the money to modify its income outreach for a newborn launched Web vena and website.

Panacea Capital Advisors Inc. in Bethesda led the fundraising round, along with individualist clannish investors.

The Canton consort created a website where restaurateurs crapper acquire indiscriminate ingredients and study prices among sellers. The tool, liberated for restaurants, is fashioned to support edifice owners spend money by scrutiny options from binary farmers or distributors.

“It’s category of same Expedia for matter distributors,” said Foodem CEO Kash Rehman. “A edifice doesn’t hit to call binary distributors to study prices. All you hit to do is become to Foodem.”

The website crapper also road how such a edifice pays for ingredients, which edifice owners crapper ingest to end whether they are purchase likewise such of a creation and to watch just how such a ply on the schedule costs to make.

Farmers and indiscriminate distributors can’t ingest the website for free, but Rehman says it is ease worth their while. Farmers crapper ingest Foodem to modify their computer humble without hiring more income representatives to go discover and encounter clients, he said.

“We are not asking them to intend disembarrass of their income team,” Rehman said. “Use Foodem as a newborn advance generation.”

Foodem takes a 2 proportionality authorisation from sales, which Rehman said is cheaper than the authorisation farmers and distributors typically clear income representatives.

Sarah covers upbeat care, higher education, biotech and technology.

Canton start Foodem raises $600000 – metropolis Business Journal

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