From its headquarters in Zurich, Prognolite generates forecasts for restaurants with the help of machine learning algorithms. The SaaS tool enables businesses to optimise their staff planning and reduce food waste by using their data. The startup already counts numerous restaurants in Switzerland to its customers, including Jungfraujoch, Nooch and Negishi.
Today, the startup announced the successful closing of its funding round over CHF 1.25 million. Besides the Innovationsstiftung der SZKB as lead investor, the Zürcher Kantonalbank, and multiple experienced business angels joined the round. In the context of the financing round, Prognolite changes its legal form from a limited liability company (GmbH) to corporation (AG).
“Characteristics of the various players in the restaurant industry vary greatly. We will use the funding to develop our product and tailor it to more customer groups. Moreover, we want to grow further in the German-speaking market within the upcoming months”, says Simon Michel, Prognolite Co-Founder and CEO.
Additional experts to support for expansion
Prognolite has also strengthened its board with the addition of Urs Bischof, André Hüsler and Damian Janzi from the Innovationsstiftung. Bischof will support the startup with his vast experience in the German foodservice industry. He used to lead the gastronomic divisions of Karstadt and Galeria Kaufhof for multiple years and is the former chairman of the restaurant association DEHOGA. With Hüsler, former CEO of the major restaurant wholesale company SAVIVA, the startup has won another expert from the industry in Switzerland.
“Prognolite provides a solution that helps restaurants to realise enormous potential in staff planning and the associated costs – and to simultaneously tackle the food waste problem. Especially in today’s challenging situation, it is more important than ever for restaurants to use their resources efficiently. I see Prognolite as a promising tool, and I am looking forward to supporting the team on its journey”, states André Hüsler.