CarbonCloud AB Gothenburg/Stockholm, Sweden
Industry Restaurant and food industry Product Kitchen management system Core partners Climate-KIC, Europe’s largest public-private innovation partnership focused on climate innovation Chalmers University of Technology RISE Research Institutes of Sweden AB Advisor Magnus Larsson, CEO, Pinchos Business model Software as a Service (SaaS) Status Scale up. Currently over 20 paying restaurants, ARR over 300,000 SEK. Core Team David Bryngelsson, PhD, CEO & Founder. 8 years of experience in research on food and climate. Ample experience in public communication. Retail experience. Receiver of Åforsk Entrepreneur of the year 2017 scholarship. Andreas Vrålstad, M.Sc., CTO & Founder. 7 years of experience on managing large IT projects. Mathias Bylund, M.Sc., Software Developer. Håkan Axelsson, M.Sc., Chairman & Founder. Serial entrepreneur and business coach at Chalmers Ventures. Fredrik Hedenus, Associate Professor, CSO & Founder. 15 years of research experience on food and climate.
Problem Restaurants struggle to meet increasing demands from their guests regarding sustainability and especially climate change. They spend time and money on this to educate their employees, purchase ever-increasing amounts of organic groceries, at 15-40% additional cost, and to communicate to their guests. They have a credibility problem as most of their guests are not aware of the resources spent on this. The sector struggles with small revenue ments are key, implying digitization, but the sector is conservative with low levels of IT maturity. Dedicated IT systems tend to be cumbersome to use and expensive to license. Chefs express frustration about this. Solution With CarbonAte, we provide the solution. We provide restaurants with a green profile as we create menus with carbon footprint labels for each dish, every day. Climate friendly food is cost neutral. The system is easy to use. A chef with little IT-knowledge is up and running in minutes without the need for any manuals. CarbonAte combines an ever-expanding array of relevant tasks into one platform. Users only ever have to type in each thing once; each dish or recipe entered into the system is stored for easy recall, climate and nutritional values are calculated automatically with clear feedback. Custom designed menus, with climate labels for each dish, are automatically generated in the system for print and screens, and webpages are automatically updated. Shopping lists can be automatically generated, to make planning as simple as possible. Market Size There are 25,000 restaurants in Sweden alone and 1.5 million in the EU. We intend to rapidly make an international expansion. When we reach 10% of the Swedish market, we get an ARR of 60
Contact
david@carboncloud.io
Tel: +46 (0) 704 40212
www.carboncloud.io
MSEK and 10% of the EU market will generate an ARR of over 3 BSEK. Our go-to-market strategy has two tracks. The first, an enterprise model with traditional selling has been validated. The second track involves a self-onboarding scheme through which restaurant can start their own account via our website. The enterprise model can take us far, but the self-onboarding is where the large potential lies. Traction Founded late in 2016, we launched our MVP in the spring 2017, signed our first paying customers in June. In October, we launched CarbonAte 1.0 and have since signed several more paying customers, two of which are large lunch service provider chains. We have three people working full-time and several working part-time. Goal In five years, we will be the leading IT-system provider for restaurants in EU and be present and growing on most relevant international markets. We will have transformed how the restaurant sector views IT. People will expect to see our labels where food is sold and use our systems to find places to eat, book tables, pay for their meals, and keep tabs on their carbon footprints. Current Investors 2 MSEK received this far from Climate-KIC, Vinnova, Innovationskontoret Väst, Chalmers Area of Advance Energy, VGR, and Åforsk. Investment opportunity 3 MSEK (of which 500 kSEK already secured) in Q1 of 2018 to scale our operations with more developers and more sales/marketing people. We also want to devote a team of developers and market specialists to develop and evaluate the self-onboarding process for a large-scale international expansion.