Wednesday 28 November 2018 12:23 pm

Vita Mojo shakes things up with a £10m series A fundraise, backed by Investec

Healthy food-focused restaurant chain Vita Mojo has raised £10m in a series A fundraising round led by Investec Bank, as it heads for expansion.

The firm said it is now "coming out of stealth mode" to help other businesses with its technology, having already signed up a few major customers such as Virgin Active, Chilango and Wokit.

Vita Mojo uses digital ordering tech to the fullest, enabling City dwellers to use iPads in its restaurants or order through Deliveroo or its website, to design meals to suit their needs.

A suite of data analytics helps customers to personalise their food choices, catering to fitness fanatics through options to increase or decrease calorie intake, macros or carbohydrates.

"The restaurant sector has for too long been plagued by legacy software," said Nick Popovici, Vita Mojo's co-founder and chief executive. 

He hopes the firm's tech can help other restaurants plagued by the UK's difficult retail environment, which are facing issues such as rising food costs and increasing business rates. 

"We know great technology can be transformational, having tested and iterated with our own restaurants for the last four years. With the support of our new investors, we look forward to continuing to service our clients and empowering them to be successful," he added.

A high-net-worth family office is also said to have participated in the £10m round. The company raised more than £3.2m in a crowdfunding round last year, which then valued the business at almost £20m.

Vita Mojo's operations chief Stefan Catoiu said the funds will be used to further develop its product and hire top artificial intelligence talent for its engineering team, as it looks to go global.