Burger Index, a Spain-based AI startup, announced that it raised $1.3 million in seed funding to initiate its expansion in the GCC region.
The round was led by Flat6Labs, a Middle East and North Africa (MENA) seed investor, with participation from F Capital, and Cosmin Manea.
The funds will be used to expand its team and data coverage to include digital groceries and supermarkets.
“Without data analytics we wouldn’t be able to do anything anymore. It’s not a luxury, it’s a necessity, you have to have it and if you don’t, you’re going to fall behind your competition,” said Wassim Berro, Founder and CEO of Burger Index. “Our customers already include brands such as McDonald’s, Nestle, Reef Technology, Allo Beirut and Majid Al Futtaim. They use Burger Index to answer key questions like where should I open my next location? What shall I price my smash burger? What are the key take outs from my reviews? What salmon poke promotions are active right now? All industries need these kinds of actionable insights in real time.”
The company key selling point is its ability to help F&B businesses go to market faster, allowing them to spend less time on strategy and more time on execution.
By acquiring all the available F&B data in any market, the company minimizes the risk of every decision and provides access to the data at an estimated tenth of the cost of alternatives such as market research agencies and internal data-insights teams.
Burger Index is already available in 7 countries across Europe and the GCC within just four months of launch.
Company: Burger Index S.L.
Round: Seed Round
Funding Month: March 2023
Lead Investors: Flat6Labs
Additional Investors: F Capital and Cosmin Manea
Company Website: https://www.burgerindex.com/
Software Category: F&B Data Analytics Platform
About the Company: Founded in Spain in 2022 by Wassim Berro and Maurice Karam, Burger Index is an AI-driven F&B data analytics platform that provides market, competition, and consumer intelligence in real-time. The company has quickly established itself as the ‘Bloomberg of the F&B sector’, providing F&B data analytics for restaurants, cloud kitchens, food brands, and distributors. Burger Index uses AI to turn billions of data points into solutions that help restaurants and cloud kitchens make better decisions faster.