UK-Based Growyze bags €735k to streamline stock control for the hospitality industry

Based in the UK, Growyze is on a mission to help food and beverage businesses operate smarter, greener and in a more efficient way. The startup has secured €735k for its SaaS solution that streamlines stock control and prevents operational losses.

The hospitality industry is increasingly going digital. It’s a sector that has traditionally relied upon paper-heavy, manual processes, but, times are changing. New digital tools and solutions re being introduced to help manage different processes, removing dependency on spreadsheets and manual inputs.

While these systems have improved over the past few years, allowing bars and restaurants to effectively digitise sales, there has been little development in software to help the same venues manage other areas that affect profit. For back-of-house operations, in particular, solutions remain outdated, complex, or tailored to enterprise clients and so inaccessible to smaller players.

UK-based Growyze wants to change that.

Funding details

• Over €735k has been raised since launch
• The investment comes from angel investors and Syndicate Room’s Access EIS Fund
• It’ll be used to accelerate development and expansion

Founded in 2019, Growyze provides a modern, easy-to-use and user-friendly solution that allows hospitality businesses to streamline their back-of-house operations and minimise operational losses.

Founder of Growyze Kati: “Having worked as a loss prevention manager inside large hospitality chains for 16+ years, I saw firsthand how little automation and technology there was and how much the industry relies on manual input to complete tasks. Given that small losses can make the difference between a successful restaurant and one that goes into administration, there has never been a better time for F&B businesses to gain better visibility over where they’re losing profit, over-ordering or paying for missing items, all in one tool.

The stock control platform automates much of the manual input usually required to see accurate reporting on profitability. This includes 3-way automated validation purchasing, barcode scanning for inventory and powerful reporting which guarantees F&B businesses efficient supplier management, reduced admin time and improved cost control. It enables users to manage suppliers, place new orders and validate invoices and deliveries, all in one place.

Mark McDermott, CEO ScreenCloud (Investor): “What Growyze is offering may seem like a simple solution but behind the scenes, we quickly realised that Kati and the team are bringing the very latest workflow automation to an industry that thrives on really small margins…and every penny matters.”

Over the past year, the company has doubled its growth and will use its latest investment funds to expand product capabilities and help more hospitality venues eliminate manual work and save money.

MD, Whistle Punks: “The platform is very user-friendly and so easy to navigate, it removes all the noise you find with other providers and focuses on what is important.”

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• Source: https://www.eu-startups.com/2023/02/uk-based-growyze-bags-e735k-to-streamline-stock-control-for-the-hospitality-industry/