German virtual pizza restaurant chain Milano Vice has secured €8.3m ($8.95m) in a Series A funding round to expand its restaurant model.
The funding round was led by Coefficient Capital, joined by investors including True, Geschwister Oetker and Speedinvest.
The German company also received investment from Just Spices co-founder Ole Strohschnieder, Flash Coffee co-founder David Brunier and Numa co-founder Christian Gaiser.
The proceeds will be used by Milano Vice to scale operations and expand its business across Germany and internationally.
Coefficient Capital partner Arpon Ray stated: “We have been looking for innovative models in food delivery and were immediately impressed with the capital-efficient business model Rudolf [Donauer] and Dennis [Murselovic] created.
“We think their focus on using proprietary technology will be a major differentiator, and their approach to brand building will resonate with today’s consumer.”
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Milano Vice is the world’s first and only digitally-powered, delivery-first pizza restaurant concept and was established by Donauer and Murselovic in 2021.
The company partners with professional kitchens and small business owners and helps them increase sales more than four-fold by creating and delivering gourmet pizzas to their customers’ homes.
Milano Vice has partnered with more than 60 establishments in Germany.
Since its launch in January 2022, the company has sold more than one million pizzas across Berlin, Hamburg, Frankfurt am Main and North Rhine-Westphalia.
Through its proprietary technology, it aims to drive a superior partner and consumer experience.
Milano Vice co-founder and CEO Rudolf Donauer stated: “We always wanted to create something that would have a positive impact on food entrepreneurs, and the work we’ve been doing with Milano Vice is in service of this vision.
“We are building the restaurant of the future with a pizza brand that has a best-in-class delivery system, tastes great and also helps small food businesses and restaurants grow their income.”