New investment for Wisefood: The Munich-based food startup has received a seven-figure sum from several private investors from Baystartup's investor network. Wisefood plans to use the fresh capital to expand its production and launch additional sustainable products alongside its edible straws. The company also plans to export to other countries..
Wisefood successfully completes its Series A financing round. Private investors include former Telegate CEO Andreas Albath, Feliks Eyer, founder of Regiohelden, and Markus Hölzl, industry expert and former Managing Director of film manufacturer Klöckner Pentaplast. Delivery Hero also joined the Series A as a corporate investor. Wisefood has developed an environmentally friendly alternative to plastic straws with its edible drinking straw made from renewable raw materials.
“We were looking for experienced angels and experts in various fields to complete our team and thus grow even faster,”
explained Philipp Silbernagel, CEO of Wisefood, explains the decision to the investors. He continues:
"Last year, we were able to replace more than 50 million plastic straws with our edible 'Superhalm' straws, and unlike our competitors, we are also operating profitably as a company. We want to not only continue this growth, but accelerate it many times over until the EU plastic ban in 2021."
Overall, Wisefood now has a seven-figure sum at its disposal for further growth and the expansion of its product portfolio.
Business Angel Andreas Albath, former CEO of Telegate, on Wisefood's future prospects:
"Looking ahead, expanding Wisefood into an edible tableware provider is an exciting vision. I'm confident the team can achieve this—they've already proven their ability to successfully overcome challenges in company development."
Also Markus Hölzl underlines the brand’s prospects:
"I was very impressed by Wisefood as a sustainable product alternative to disposable plastic tableware, and in light of the EU plastic ban and the increasing trend toward sustainable products, I see excellent growth opportunities for the company as a provider of edible disposable products—especially internationally."
The three Wisefood founders, Philipp Sibernagel, Patricia Titz, and Maximilian Lemke, borrowed the idea for the Super Straw from the Karlsruhe Institute of Technology, where its first version was developed as part of a student project. Their drinking straws are made from renewable resources. They consist primarily of grain and apple pomace—a byproduct of apple juice production—and are manufactured in Germany. They impart no flavor to the beverage. In addition to Aldi, the Munich-based startup already works with numerous well-known brands from the gastronomy and hotel scene, such as Ibis, Mercure and Novotel of the Accor hotel group.
