The European Investment Bank (EIB) has announced a €20 million (US$21.8 million) investment in StiQ, a foodtech company based in Athens.

This funding, facilitated by the InvestEU programme, aims to support the company’s research, innovation, and expansion throughout Europe.

StiQ, founded in 2022, operates a platform that integrates software, logistics, and food operations to enhance meal preparation and delivery for digital restaurant brands.

The company currently manages five kitchen hubs in Athens, serving over 20 brands and employing 200 staff.

It plans to expand to 30 hubs across Europe by 2029.

The platform features AI-driven demand forecasting, dynamic menu engineering, and smart delivery routing to increase efficiency and minimize environmental impact.

🔗 Source: EU-startups

🧠 Food for thought

1️⃣ European cloud kitchen market shows explosive growth trajectory

StiQ’s €20 million EIB investment comes at a particularly opportune moment for the European cloud kitchen sector.

The European cloud kitchen market is projected to grow from USD 6.21 billion in 2025 to USD 20.98 billion by 2032, representing a compound annual growth rate of 19.0%1.

Another market analysis shows even stronger momentum, with valuations projected to jump from USD 22.94 billion in 2024 to USD 86.11 billion by 20302.

This rapid expansion is driven by approximately 1,200 cloud kitchen facilities already operating across Europe as of 2023, each serving an average of 500 orders per day1.

The market dynamics favor StiQ’s multi-brand approach, with around 70% of cloud kitchen businesses partnering with third-party delivery services and online orders accounting for 80% of their revenue1.

The sector is expected to support over 5,000 brands by the end of 2023, indicating substantial room for StiQ’s planned expansion to 30 hubs across Europe by 2029.

2️⃣ EIB has established itself as Europe’s primary venture debt provider for innovative companies