The startup, Pepper, is an online platform designed for food distributors. It is gradually expanding its market presence to compete with industry giants like Sysco and US Foods. Pepper is specifically focused on providing smaller, independent distributors with advanced technology solutions to help them stay competitive in the
The startup created a user-friendly ordering system tailored for small-scale food suppliers, allowing them to showcase their wide range of products, totaling over 100,000 items. This system also empowers these businesses to create their own mobile applications and websites, making it convenient for customers to place orders and make payments online
Bowie Cheung, the co-founder and CEO of Pepper, a startup in the food industry, revealed that the company currently serves 200 customers out of a market consisting of 25,000 food distributors. Cheung aims to expand Pepper's reach by improving the connection between independent distributors and technology.
Many startups are active in the e-commerce food distribution industry, with Pepper being a key player. One example is Choco, a company that created a sustainable food system for restaurants and suppliers. Another example is Cut+Dry, as well as Anchovi, which is Dot Foods' white-label platform for foodservice e-commerce. Recently, Dot Foods transitioned Anchovi users to Choco as part of a new collaboration.
Cheung did not provide exact details on Pepper's income, but mentioned that it has increased by over 20 times. He also did not reveal the startup's worth, but mentioned that it has improved since the previous funding round.
Pepper, a startup focused on food, has recently received a $30 million Series B funding round. The funding was led by ICONIQ Growth and included participation from Harmony Partners, as well as existing investors such as Index Ventures, Greylock, and Imaginary. With this latest round, Pepper has amassed a total of $60 million in funding. Investors have shown strong interest in supporting the growth of Pepper.
Cheung expressed that partnering with ICONIQ Growth was ideal for their startup. He emphasized their expertise in supporting successful software businesses in various industries, including food distribution, which aligns well with their goals.