Announcing 30N Ventures Inaugural Investment: Foodology
We’re delighted to share an essential milestone for 30N Ventures. We have made our maiden investment, and it’s with a company that’s shaping the future of cloud kitchens and virtual brands – Foodology.
Based in Colombia, Foodology stands out in the rapidly expanding cloud kitchen and virtual restaurant sector. According to Allied Market Research, the cloud kitchen market is set to reach an impressive $71.4 billion globally by 2027. Foodology has embraced this opportunity to create a robust platform for virtual restaurant brands.
Their operation in Latin America is already proving its value add, servicing an array of own brands through a network of efficient kitchens. They dispatch over 300,000 orders monthly through 85 kitchens across four countries, clearly indicating their pivotal role in the food delivery market.
Daniela Izquierdo and Juan Guillermo Azuero lead this venture, a duo whose credentials include Harvard MBAs and Endeavor Entrepreneur titles. Their innovative vision and relentless drive are instrumental in shaping Foodology’s trajectory in Latin America’s cloud kitchen and food delivery landscape.
Our goal is to align with innovators who operate in promising industries. The global food delivery market, as per Statista, was valued at $151.5 billion in 2021 and is forecasted to grow at a CAGR of 12% from 2021 to 2028. The food delivery market in Latin America, in particular, is expected to grow at a CAGR of 11.29% from 2023 to 2027.
Our investment in Foodology represents our confidence in this market’s potential and the strong leadership of Dani and Juangui. We are excited to be part of this journey, as we foresee significant growth and industry transformation.
Here’s to the future of food and a journey filled with exciting possibilities!