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BOISE, Idaho, Dec. 28, 2020 /PRNewswire-PRWeb/ Crave Hospitality Group announces the closing of a $7.3 million seed funding round led by StageDotO, a venture capital firm that focuses on early-stage companies and provides the growth capital, guidance, and infrastructure they need to reach success. Other contributors include Meridian, ID-based investment firm and real estate developer Capital Eleven and undisclosed individual investors.
Crave plans to use the funding to build pre-opening teams for the next four Crave Collective facilities opening in 2021, followed by 10 more in 2022. Locations include Salt Lake City and Provo, Utah; the Dallas-Fort Worth metroplex; Mesa and Chandler, AZ; and Denver, CO.
Senior Editor - Restaurants Investors open wallets for delivery and carryout restaurant model that is powered by in-house delivery and proprietary tech.
Crave Hospitality Group closed of a $7.3 million seed funding round led by StageDotO, a venture capital for its delivery and carryout model. Other contributors include Meridian, ID-based investment firm and real estate developer Capital Eleven and undisclosed individual investors.
Crave plans to use the funding to build pre-opening teams for the next four Crave Collective facilities opening in 2021, followed by 10 more in 2022. Locations include Salt Lake City and Provo, Utah; the Dallas-Fort Worth metroplex; Mesa and Chandler, AZ; and Denver, CO.
First posted on BoiseDev.com Dec. 17, 2020.Meridian-based startup Crave Hospitality said it raised $7.3 million from investors primarily local individuals. Its a so-called “seed round,” which helps startups fund initial operations. Crave launched a restaurant delivery platform in Meridian earlier this year.
StageDotO, the Boise-based venture capital firm, led the funding. CEO Devin Wade told BoiseDev that all the other investors in the seed round are local individuals.
âThis round includes multiple local investors,â Crave investor Travis Hawkes said. âI donât think any company has reached this much seed money from local sources.â
Expanding across USWade said they hope to build four additional Crave locations across the US next year, and another ten in 2022. The company will be headquartered in Meridian, in addition to the local delivery operation.