Torg, a Berlin-based B2B startup, has recently concluded an oversubscribed seed funding round, securing €2.7 million. The round was spearheaded by Connect Ventures. Existing investor FoodLabs and new backers also participated in the round. The latter included Sondo, Ventures Together, and individuals such as Sameer Singh and Jonas Meynert. This financial infusion will propel Torg’s ambitions to enhance its digital platform, enrich its supplier database, and develop intuitive tools for buyers. The main aim is to streamline their procurement tasks…
About Torg
Torg was originally founded by Hans Kristian Furuseth, Ben Holdham, and Rita Kerbaj. The company draws from over two decades of their collective experience across e-commerce, foodtech, and consulting. Their previous roles at leading firms like Zalando and Delivery Hero endowed them with the insights to create a platform that echoes the simplicity of e-commerce, facilitating a much smoother sourcing process. The company’s mission is to alleviate the sourcing burdens for buyers. It allows the buyers to concentrate on core duties by leveraging AI and machine learning. This in turn leads to manual, labour-intensive aspects of procurement becoming automated.
Torg’s innovative solution
Torg’s platform stands out for enabling buyers to swiftly set up product requests and distribute them to a vast network of relevant manufacturers. It boasts a comprehensive supplier database, which includes detailed profiles, certifications, and product capabilities, streamlining the sourcing process. The platform supports over 100,000 verified food and beverage suppliers across Europe.
Impact and testimonials
In a relatively short span of 14 months, Torg has managed to compile the largest database of suppliers in the food and beverage sector, significantly outpacing traditional food fairs. Hans Furuseth, Co-Founder and CEO, highlights the platform’s role in democratizing private label products and fostering transparency in supply chains. Sitar Teli from Connect Ventures praises Torg for advancing digital sourcing in the private label food and beverage sector, responding to consumer demands for transparency and lower prices. Additionally, Jonas Meynert shares his positive experience with Torg, emphasizing its efficiency and the significant savings it facilitated for his company, Lanch.
Torg’s journey is marked by a clear vision to transform food and beverage procurement, making it more accessible, efficient, and cost-effective for buyers and suppliers alike. With the fresh funding and a robust platform, the business is well on its way to redefine industry standards. It is also planning to foster more meaningful business connections across the food and beverage supply chain.
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