Choco, a Berlin, Germany-based food technology company, raised $111m in Series B2 funding with a valuation of $1.2 billion.
The internal round was led by U.S.-based growth investor G Squared, alongside Insight Partners.
The company will use the additional funding to drive continued technology innovation, support its growth in the U.S. and Europe, and expand to additional markets.
Founded by serial entrepreneurs Daniel Khachab and Julian Hammer, Choco provides a software platform which digitizes ordering, supply chain operations and communications for suppliers and restaurants.
Choco brings restaurateurs and their suppliers together on a digital platform to optimize purchasing processes and enable customers to save time, money and food. Since its founding in 2018, the company has grown rapidly and is now active in markets such as the U.S., Germany, France, Spain, Austria and Belgium. In February 2022, the total value of goods traded through Choco exceeded $1.2 billion.