Torg
Torg is a digital platform digitizing product sourcing for the food and beverage industry, utilizing AI to streamline procurement. It connects retail and wholesale buyers with over 200,000 verified food and beverage suppliers in Europe, specializing in private label and foodservice categories. Buyers can create product requests in minutes and receive quotes from relevant, verified suppliers, facilitating efficient connections and saving time and money. The platform aims to simplify the sourcing process by leveraging technology to automate manual tasks and improve transparency, allowing users to focus on their core responsibilities. Jonas Meynert, COO of Lanch, cited Torg's efficiency in obtaining multiple quotes below target prices, leading to the decision against hiring a dedicated sourcing team. Jozef Fabo, Head of Private Label at Terno, highlighted Torg's role in launching a private label cereal brand in six weeks and successfully submitting tenders across various categories. Geoff Wilson, President of Food Innovations, praised Torg for its ease of communication and its team's support in finding new manufacturers.
Torg
Torg is a digital platform digitizing product sourcing for the food and beverage industry, utilizing AI to streamline procurement. It connects retail and wholesale buyers with over 200,000 verified food and beverage suppliers in Europe, specializing in private label and foodservice categories. Buyers can create product requests in minutes and receive quotes from relevant, verified suppliers, facilitating efficient connections and saving time and money. The platform aims to simplify the sourcing process by leveraging technology to automate manual tasks and improve transparency, allowing users to focus on their core responsibilities. Jonas Meynert, COO of Lanch, cited Torg's efficiency in obtaining multiple quotes below target prices, leading to the decision against hiring a dedicated sourcing team. Jozef Fabo, Head of Private Label at Terno, highlighted Torg's role in launching a private label cereal brand in six weeks and successfully submitting tenders across various categories. Geoff Wilson, President of Food Innovations, praised Torg for its ease of communication and its team's support in finding new manufacturers.
TL;DR
What: AI-powered B2B procurement marketplace for food & beverage sourcing
Scale: Platform lists over 200,000 verified F&B suppliers (company claims)
Team size: 28 employees (reported)
Funding: Seed round in April 2024; total funding reported USD 2,930,000
Headquarters: Berlin, Germany
Company Overview
Problem Domain
Inefficient manual sourcing and procurement in the food & beverage industry, especially for private label and foodservice categories.
Industry
Food & Beverage; B2B marketplace; Procurement SaaS
Funding Track Record
Round reported April 2024 with participation from FoodLabs, Ventures Together and Sondo Capital
Investor Signal
“Lead investor Connect Ventures with participation from FoodLabs, Ventures Together and Sondo Capital”