Snackwize secures investment from TechnologyOne founder

Snackwize secures investment from TechnologyOne founder

The founder of one of Brisbane's most renowned tech companies TechnologyOne has injected $0.5 million into a fast-moving startup.

Snackwize, a healthy snack subscription service for Australian businesses, has received funding from tech leader and TechnologyOne founder Adrian DiMarco to scale the business and fuel growth into home delivery.

Founded in 2016 by Conor Reynolds Snackwize has so far successfully caught the wave of clean eating by making it easier for offices to get healthy food into the kitchen.

In three years, Reynolds has signed up around 100 companies to Snackwize including BDO, RMIT, Marriott Hotels, TechnologyOne, Data 3 and Cromwell Property Group.

With the investment from DiMarco Reynolds says Snackwize may soon be able to make some ground on the size of similar companies in the United States. Collectively $1.08 billion was invested into food startups in 2017.

"Food and beverage startups are slowly popping up on Aussie soil yet raising capital in this sector is still in its infancy, so we are very lucky to have this support early on in our journey," says Reynolds.

Reynolds says the VC capital from DiMarco will assist in expanding Snackwize's offering to home delivery, as well as office subscriptions.

"The decision to expand into home delivery follows a strong organic growth in the market and will be a game changer for fitness buffs and busy families on the go," says Reynolds.

"The number of Aussies who eat unhealthy snacks as a meal replacement is alarming, especially when you consider those young professionals in offices today will occupy a large percentage of the workplace by 2025."

"Fruit baskets in the office have been a staple for almost 16 years, yet as the frequency of snacking and the demand for more nutrient-dense food continues to rise, people are looking for more nourishing, plant-based foods they can grab on the fly."

The team is continually researching market trends to ensure the healthiest and tastiest product mix and rotation, with popular brands including Blue Dinosaur, Health Lab, Just Jerky, LuvSum, Shelby's, Piranha, Super Orbs, Googys, Brookfarm, Carman's, Tom & Luke Balls, and more.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Brisbane-based IT consultancy Exent acquired by Atturra for up to $8m

Brisbane-based IT consultancy Exent acquired by Atturra for up to $8m

Founder-led IT consultancy Exent is set to join the growing portfol...

Investors sour on Aussie Broadband's new challenger brand Buddy Telco with $10m marketing cost

Investors sour on Aussie Broadband's new challenger brand Buddy Telco with $10m marketing cost

After rival Superloop (ASX: SLC) scooped up its white labelling agr...

Golden handshakes to departing ASX100 CEOs hit 12-year high

Golden handshakes to departing ASX100 CEOs hit 12-year high

Around one in every six CEOs of ASX100 companies left their job&nbs...

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

The revolving door of leadership at Maggie Beer Holdings (ASX: MBH)...