Berlin-based Torg, a B2B startup transforming food and beverage sourcing with its AI-powered platform, has successfully closed an oversubscribed €2.7M Seed funding round. This investment will fuel the development of Torg’s platform, expand its supplier database, and create more intuitive tools to streamline the sourcing process.
The funding round was led by Connect Ventures, with participation from existing investor FoodLabs and new backers including Sondo, Ventures Together, Sameer Singh, and Jonas Meynert (co-founder of Lanch). Sitar Teli, Partner at Connect Ventures, praised Torg for creating the first digital sourcing platform for private label food and beverage, propelling the industry decades ahead.
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A New Era of Sourcing Efficiency
Founded in 2022 by Hans Kristian Furuseth, Ben Holdham, and Rita Kerbaj, Torg addresses the inefficiencies in traditional sourcing methods. The platform simplifies supplier discovery, communication, negotiation, financing, and verification for private label and foodservice projects, connecting buyers with over 100,000 verified food & beverage suppliers in Europe.
Leveraging AI for Comprehensive Supplier Database
In just 14 months, the german firm has utilized machine learning and AI to compile the largest database of food and beverage suppliers, surpassing major food fairs like Anuga and SIAL in manufacturer coverage by more than tenfold. The platform’s efficient data collection and analysis enable the identification, verification, and vetting of suppliers, offering complete profiles and capabilities.
Democratizing Private Label Products
The startup aims to democratize private label products by creating more transparent supply chains and highlighting quality suppliers. Co-founder Furuseth likened Torg to “Tinder for sourcing,” emphasizing the platform’s role in fostering meaningful business connections. Till Hoelzer, Principal at FoodLabs, highlighted Torg’s impact on reducing operational burdens and launching superior, cost-effective private label products.
With this seed funding, the startup is set to revolutionize food and beverage procurement, meeting the growing consumer demands for transparency, certifications, and lower prices, while enabling grocers and wholesalers to take greater control of their supply chains.
