Foodem Raises $600,000 of Seed Funding
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Baltimore, Maryland – Foodem, the only B2B online food marketplace that connects wholesale food buyers, such as restaurants, hotels, universities, hospitals, government institutions, etc. with food distribution companies, farms and specialty food manufacturers has raised $600,000 of seed funding from Pancea Capital Advisors.
“This is an industry that is ripe for disruption, and Foodem is uniquely positioned to lead as a first-mover in that initiative,” says Sam Rubenstein, President of Panacea Capital Advisors. Brian Gaister, another of Foodem’s angel investors also noted that, “We were impressed by Foodem’s ability to solve problems on both sides of the sales equation. There is a clear need in this $650B industry, and Foodem is the only solution out there.”
Foodem is a product of the Baltimore’s Emerging Technology Centers’ (ETC) business incubator program which granted the startup $75,000 of funding and also mentorship from Maryland Technology Development Corporation (TEDCO).
Funding Total: $600,000
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|Investors: Panacea Capital Advisors|