Foodu

Foodu Invest Srl is the target company of this equity crowdfunding capital raising, which has the sole purpose of investing the capital raised in the startup Innovabile Srl, owner of Foodu, at a premoney valuation of €1,800,000.00.

Foodu is the first participatory food e-commerce in Italy. Foodu has overturned the assortment process: it is not the purchasing department that decides what to put on the shelves, but the consumers themselves. In fact, it is the latter who propose the products to be added to the catalog. Each product, however, before it goes on sale, is validated by community nutritionists and some special customers called Approvers, who evaluate its taste.

The Approvers buy the items in advance at discounted prices in exchange for an evaluation through comparative testing. In fact, they compare them with similar products they usually use, thus making the test more effective in finding products that really taste better.

Foodu involves the entire supply chain. Consumers in the community in fact make themselves available to producers and help them improve their products, through an innovative B2B Product Testing service.

The B2B service allows the community to monetize right away, while the B2C marketplace guarantees enormous scalability. E-commerce is in fact just a starting point of a model that we intend to bring to physical channels as well. Foodu is not targeting a niche; it wants to make healthy eating a benefit of everyone.

Customer need

Foodu helps both people to eat better and choose environmentally friendly brands, and companies to make exactly the products consumers want: healthy, good, sustainable, and appropriately priced. Indeed, there is a gap between what the producer thinks of his product and what the consumer's perception is.

Technology

Approvers do not perform simple reviews, but real crowdsourced consumer tests. Sales data and comparative tests are used by Foodu's Artificial Intelligence algorithms , which tell us which products to add to the catalog and which to remove, so as to maximize customer satisfaction, with truly incredible statistics.

Customer and traction

In 12 months, over 22K tests were conducted by ~600 Approvers. Each individual Approver tests over 30 products every 6 months.

This resulted in a catalog of ~500 approved products.

80% of Foodu's customers think the product selection is better than other channels, both online and offline. This translates into high loyalty and recurring purchases (33 days on average).

Fifty percent of B2C turnover comes from reorders.

In contrast, 12% of total turnover is generated by the innovative Product Testing service.

Foodu was selected by Invitalia in the context of the "Bravo Innovation Hub Agrifood," as one of the 3 best realities in the national food-tech scene.