A Vancouver-born startup innovating food supply chains with a technology-based platform has raised financing to expand its offering across North America.
Uni-one announced this week that it has secured $10 million in a Series A round from Celtic House Asia Partners, Red River Investments, Banyan Pacific Capital, and others. The round values the company at $60 million.
The Canadian company aims to provide a one-stop digital shop for restaurants, grocers, and wholesalers alike.
Uni-one’s online app, which is powered by a proprietary intelligence system, allows users to browse products, place orders, and track trends.
“Restaurants and grocers in North America must manage hundreds of suppliers every day . . . it’s even worse for franchises,” CEO Neil Gu told the Vancouver Tech Journal. “Despite massive leaps in tech, North America’s food supply chain industry has been slow to adopt them, which I believe is due to outdated mindsets and complacency.”
The B.C. company has earmarked the Series A capital for market expansion and strategic mergers and acquisitions (Uni-one has already completed four acquisitions with more planned) as it works toward “critical milestones,” including reaching all Canadian provinces and cities through its distribution network as well as penetrating the U.S. market.
Uni-one was founded in 2017 by Gu alongside fellow Simon Fraser University graduates Kevin Men and Jun Wang.
Since then, the firm has raised more than $20 million and now boasts over 100,000 square feet of warehousing space in Canada.
Today, the rapidly growing company services more than 15,000 annual deliveries, working with over 100 brands including notable chains such as H-Mart, T&T Supermarket, and Loblaws.
As Uni-one grows, the company continues to bolster its team with local talent, according to Gu, both on the tech side and across their warehouses and sales departments.
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