Investment Climate Podcast: Justus Lauten of foodforecast, How to Get Funded in 2024

In a recent podcast episode, Justus Lauten, the founder and CEO of foodforecast, shared insights into his journey of building a startup focused on reducing food waste through AI-driven predictions for bakeries, supermarkets, and gastronomy. Using advanced AI technology, foodforecast enables precise sales planning, automating production and ordering processes while minimizing food waste. Justus also highlighted the importance of networking, traction metrics, and strategic investor introductions in securing funding, as well as the reality of managing fundraising efforts over extended periods in challenging market conditions.

Despite facing challenges, foodforecast has raised over €3 million led by institutional investors like Future Food Fund, Scalehouse Capital, and Aeronaut Invest. Justus emphasized the significance of knowing the effects of investment and dilution and how customers can also become investors during crisis situations. The podcast episode shed light on key strategies and experiences that have contributed to foodforecast's success in the competitive food tech industry.