The Social Chain AG
The Social Chain AG: Digital multiple-use system VYTAL on track for growth: Food Chain GmbH increases its investment
DGAP-News: The Social Chain AG
/ Key word(s): Investment/Financing
Media Release
Berlin/Cologne, 11 February 2021. Second helping on a good deal for environment and company. Food Chain GmbH, a wholly owned subsidiary of Social Chain AG WKN: A1YC99), is increasing its investment in VYTAL GmbH by EUR 300,000. VYTAL is the company behind an app-based multiple-use system for food packaging. Last year, Social Chain AG had already invested EUR 450,000 in VYTAL. The investment in the Cologne-based start-up had been secured by Dr. Georg Kofler, anchor shareholder and chairman of the supervisory board at Social Chain AG, as an investor in the VOX TV show “Die Höhle der Löwen” (Germany’s equivalent of the UK’s “Dragons’ Den”). After the latest funding round with a total volume of over EUR 2 million, Food Chain remains VYTAL’s largest shareholder (12.4%) alongside the founding team (69%). Kofler: “VYTAL is on an excellent path. In a very short time, the start-up has established itself as a market leader for reusable food packaging. Social Chain AG and our Food Chain will continue to assist VYTAL as strategic partners. As an early investor, I will also personally continue to support the founders in every way possible.” The digital multiple use platform VYTAL offers high-quality, leak-proof food packaging for takeaway and delivery meals. VYTAL partners are restaurants, delivery services, canteens and supermarkets. VYTAL is free of charge for consumers. Once registered via the VYTAL app, they can then borrow and return containers from any partner. So far, VYTAL has already managed to win over 700 partners. VYTAL plans to use the new funds to invest in its drop-off and return network. The aim is to reduce the number of disposable containers by more than three million in 2021 through the VYTAL system. More information about VYTAL is available under vytal.org. Dr. Tim Breker, co-founder and CEO of VYTAL: “We are very pleased about the extended involvement of Georg Kofler and Social Chain AG. Social Chain is one of the leading companies for social media marketing. With its integrative understanding of Social Commerce, Social Chain is the perfect partner to support us in our mission: Making reusable so easy and convenient to use with VYTAL that it becomes the packaging standard for sustainable takeaways and delivery meals.” Social Chain AG consolidates its food sector brands, communities and subsidiaries in the Food Chain GmbH. In addition to VYTAL, Food Chain GmbH currently holds shares in the following four companies: Clasen Bio (shareholding: 100%), KoRo (57%), 3Bears (15%) und Planty-of-Meat (10%). KoRo operates its own online shops for food in nine European countries (koro-drogerie.de). The company focuses on high-quality products in bulk packaging with resulting cost savings for end customers. KoRo uses social media almost exclusively for marketing and is one of the pioneers of social commerce in the food sector. Planty-of Meat offers tasty, purely plant-based meat alternatives with sunflower seeds as a source of protein (planty-of-meat.de). — Food Chain GmbH increase investment in VYTAL
The Social Chain AG: Social Commerce on a global scale
Contact: Jana Walker | Press press@socialchain.com
11.02.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | The Social Chain AG |
Gormannstraße 22 | |
10119 Berlin | |
Germany | |
Phone: | +49 (0)30 208484010 |
E-mail: | contact@socialchain.com |
Internet: | www.socialchain.com |
ISIN: | DE000A1YC996 |
WKN: | A1YC99 |
Listed: | Regulated Unofficial Market in Dusseldorf |
EQS News ID: | 1167733 |
End of News | DGAP News Service |