foodforecast

Foodforecast provides a transformative solution for the food industry, leveraging proprietary artificial intelligence to combat food waste and enhance operational efficiency. The Cologne-based startup, founded in 2018 by Justus Lauten and later joined by co-founder Jan Brormann, offers AI-driven sales forecasting to optimize the entire food supply chain, starting from the point of sale. The company's genesis traces back to Lauten's passion for sustainability and his expertise in data science, which led him to address a challenge posed by two independent bakeries struggling with high levels of waste due to unpredictable sales. Lauten, a computer science graduate, and Brormann, an industrial engineer, met in a corporate setting and combined their entrepreneurial and scaling experience to launch Foodforecast commercially in 2022.

The company operates on a Software-as-a-Service (SaaS) model, providing its technology to a diverse client base that includes bakeries, restaurants, supermarkets, and food retailers across several thousand stores in Europe. Notable clients include major players like SSP Germany, which operates franchises such as Burger King and Starbucks. Foodforecast's AI analyzes historical sales data and integrates external variables like weather and holidays to generate precise, automated order and production suggestions. This enables businesses to significantly reduce overproduction and automate ordering processes by over 90%, freeing up staff to concentrate on sales and customer service. The platform offers specific products like "AI-based order optimization" and an "AI-based production plan" tailored to different operational needs.

Financially, Foodforecast has demonstrated considerable market traction and investor confidence. In September 2024, the company secured over €3 million in a funding round led by Scalehouse Capital and Future Food Fund II, with participation from existing investors Blue Horizon Ventures and Aeronaut Invest. This brought its total funding to approximately $3.88 million over two rounds. The capital is earmarked for scaling operations and expanding its footprint across the European food retail market. The company's impact is quantifiable, with claims of reducing food waste by up to 30%, increasing sales by up to 11%, and lowering labor costs by 15%. In 2023 alone, Foodforecast's technology helped save 4,000 tons of food waste.

Keywords: food waste reduction, demand forecasting, supply chain optimization, AI software, food retail technology, bakery inventory management, restaurant automation, sustainable food systems, predictive analytics, SaaS for food industry, automated ordering, production planning, grocery retail AI, food tech, resource efficiency, sales optimization, carbon footprint reduction, inventory control, data-driven planning, profit improvement