2nd generation restaurant tech that makes it about the food, not the order.
- 2nd generation restaurant tech focused on food as well as orders
- Insurance tie in with US investor secured in 2020
- Over 2,500 businesses listed on the Takeaway Hub
- In negotiation with several significant regional trade bodies.
Over 70% of us want transparency about our food. Where it comes from, what's in it, how was it made and for some is it safe for them to eat. However, restaurant and online menus do not provide this information and many businesses do not have access to it to answer the questions we have.
me~nu® was designed to address this, connecting us to verified information that we want from farm to fork, putting food back at the core of our dining experience in restaurants and at home.
For food businesses we are building in a full suite of transactional tools covering Interactive menus, POS, order and pay from table, reservations and home delivery/takeaway ordering.
For consumers, me~nu® enables them to fully personalise menus and dishes in order to confidently order food that fits their needs and preferences across a wide range of dimensions including allergens, sustainability, dietary preferences, and soon nutrition, carbon footprint, ethics and more.
me~nu® is about the food, not just the order.
Substantial accomplishments to date
January 2019, switched from general traceability technology to focus solely on the food and drink sector.
Used 2019 to research and develop what we believe to be the first farm to fork food ecosystem that pulls all the data that consumers want access to into a single, unified platform. This is me~nu®.
We started working with a small hospitality group to develop the practical applications for both hospitality businesses and their consumers that are the user interfaces to me~nu®.
Q3&4 2019 - Began developing relationships that we expected to become either partnerships or customer contracts at the beginning of 2020.
In February 2020 we were beginning the pilot programme with our initial pilot group when the industry started to slow as a result of COVID.
Lockdown stopped all pilots and virtually all commercial activity, however;
1 - we used the opportunity to increase platform functionality
2 - Launched The Takeaway Hub to enable consumers to find local food business that were open. This is now national and has over 2,500 businesses benefitting from it.
December 2020 - Secured investment from US insurer to launch a joint solution for the hospitality sector focused on food safety.
March 2021 - completed enhanced personalisation function for me~nu® which we intend to patent.
April 2021 - Re-started pilot programmes
May 2021 - First regional representative recruited to increase sales reach, with more in negotiation
June 2021 - entered contract negotiations with several regional trade bodies
me~nu®is provided via subscription as a SaaS/PaaS product. This is paid for by businesses using it. Consumers do not pay to use me~nu®
1st generation of foodtech platforms for table booking, home delivery and POS are increasingly seen as too expensive by the hospitality sector, creating an opportunity for me~nu® to displace them with a more complete solution and smarter pricing. Our pricing model provides the entire me~nu® solution for a simple flat subscription fee.
me~nu® is priced so that we can capture the maximum possible market share in a market that is expected to be worth over £91 billion by 2022 in the UK alone, and is recovering rapidly from COVID.
We will get to market through regional representatives who are responsible for building their territories with a target of achieving 5% by 2025/26.
We plan market entries to the EU and USA from 2022 onwards where we already have negotiations in place.
Use of proceeds
The funds raised from this round will be deployed with a focus on growing the business to cash flow positive.
This breaks down as follows –
- Staff costs - 55%
- Marketing - 11%
- External consultants - 8%
- Professional fees - 6%
- Overheads - 5%
- IP Protection - 3%
- IT equipment - 6%
- Unallocated - 6%
This is a carefully aligned budget that focuses on the core activities of commercial growth, backed up by ongoing technical development to take the company to the next stage in its journey.
The company has a Bounce Back loan for £50,000, to be repaid over 5 years in equal instalments of £887.36. Interest is at 2.5% p.a. and the first repayment will be made on July 21st 2021.
The company has a private loan of £20,000. There are 3 potential outcomes for repayment:
1. It is repaid with funds coming in from a loan repayment over the next 8 weeks.
2. It is converted into equity (to prepare for this eventuality, this has been factored into the valuation so investors will not be diluted further if this occurs)
3. New terms are negotiated for the repayment. If this eventuality occurs, this is expected to happen in the next two weeks and investors will be updated.
The company has an outstanding credit to MJ Roberts Associates, NuUnlimited's external accountant and tax advisor, to the total of £17,514. This will be repaid in 12 equal monthly instalments of £1,459.50, with the first instalment commencing one month after the Company receives the investment funds from the Seedrs investment raise.
The funds raised in this round will not be used to repay these loans.
In January 2019 one of the current directors declared bankruptcy after he was called on to repay a loan he was a guarantor for. He was discharged from his bankruptcy in January 2020 and reappointed as a director of NuUnlimited.
Open an account to get access to the team members of NuUnlimited
Already have an account? Log in
To comply with financial regulations, we can only show full campaign details to registered users.