Foodem, a Baltimore, Maryland-based B2B online wholesale food marketplace and business intelligence solution for the wholesale food distribution industry, raised $600k in angel funding.
Backers included Panacea Capital Advisors and angel Brian Gaister.
Led by CEO and founder Kash Rehman, Foodem is a B2B online food marketplace that connects wholesale food buyers, such as restaurants, hotels, universities, hospitals, government institutions, etc. with food distribution companies, farms and specialty food manufacturers. It features real-time, customized product catalogs, branded virtual storefronts, targeted advertising and promotional opportunities, automated inventory and pricing updates, a payment option, online search and procurement capabilities, and analytical reporting tools.
The company, which has just launched its new platform – Foodem 2.0 – is used by food distributors including Belair Produce, Inc., Capital Meat Company, Fells Point Wholesale Meats, FoodPRO, Metropolitan Meat, Seafood and Poultry, Profish, and S. Freedman & Sons, Inc.
In 2012, the company received $75K in funding from the Maryland Technology Development Corporation.