Vita Mojo, Black Swan Data, PRODA and Hammock Grab Tech Funding in London

A restaurant software provider, a consumer research-focused firm and two proptechs are making headway in the capital.

Great news in London as Vita Mojo, Black Swan Data, PRODA and Hammock have scooped up tech funding. 

Restaurant software provider Vita Mojo has raised a tasty $30 million (£25 million) in new financing to refine its product and expand into new markets.

Black Swan Data, which provides data insights and predictive analytics to the world of consumer research, has closed an $18.5 million (£15 million) fundraising round which adds Oxx Capital to its existing investors, Albion VC, Blackstone, Mitsui and Lloyds.

Proptech PRODA, a data processing and analysis platform, has completed its $8 million (£7 million) Series A funding round.

Hammock, a technology platform that provides current account and data analysis services for the property sector, has announced a $5.5 million (£4.5 million) funding round.

Livin’ the Vita Mojo

Vita Mojo risin’, got to keep on risin’. Song lyrics from The Doors aside, Vita Mojo is doing well and says the funding round was led by technology investment firm Battery Ventures.

The tech firm – which sells to restaurants, pubs, coffee shops, bakeries and fast-casual eateries – counts large chains among its customer base including Nando’s, GAIL’s Bakery, Le Pain Quotidien, LEON, JKS Group and Neat Burger.

Vita Mojo offers full-stack software to automate manual tasks, and deal with “labour shortages and a shift to online ordering and takeaway”. Its CEO Nick Popovici originally founded the company as a healthy-restaurant chain and then sensing something better on the menu pivoted to restaurant software.

Vita Mojo works with over 130 operators across the UK and Europe. The company explains that its platform enables restaurants to manage their core operations in one integrated system, from digital ordering via their own channels and third-party delivery platforms – such as Just Eat, Deliveroo and Uber Eats – to kitchen and back-of-house management.

Black Swan Data Floats in Style

Black Swan Data is all about connecting social data sources to predict consumer behaviour.

The tech firm will use the funding to extend its social prediction tool’s (Trendscope) functionality, seek out more action in the US market, and expand its data sources and partnerships.

It has some noteworthy clients, such as PepsiCo, Johnson & Johnson, Kraft Heinz, Harley Davidson, Henkel and P&G.

Stephan Gans, SVP, Chief Consumer Insights and Analytics Officer at PepsiCo, explains: “Trendscope has been instrumental in the development of new products and staying ahead of mainstream consumer preferences by monitoring data from Twitter, Reddit, and other online source.

“During the pandemic, for example, we saw an increase in conversations and posts about seltzer makers and new flavours in lieu of consumers being able to consume their favourite beverages out of the home. This insight helped PepsiCo prioritise and fast-track the development of new products like Bubly Drops to take advantage of this growing territory.”

PRODA’s Progress

PRODA says the fundraise was led by existing investor ING Ventures, and it welcomes JLL Spark, Blackstone Innovations Investments and Concrete VC as new investors.

Launched in 2017, PRODA is a cloud-based SaaS solution that captures, standardises, validates, analyses and exchanges rent roll data – which is used by the commercial real estate industry among lenders, investors and asset managers. It’s a machine-learning trained platform that automates the process.

PRODA operates across 16 countries, and says it tailors its platform to regional needs. Its flagship technology includes new additions such as a tenant exposure and risk analysis tool, as well as a charting tool for asset managers.

It will use the funding to look for more action in Europe.

Hammock Feeling Relaxed

According to Hammock, the round was led by Fuel Ventures, together with Second Century Ventures and Ascension Ventures.

The proptech startup was founded in 2019 and is all about making money from the ‘New Making Tax Digital for Income Tax Self Assessment’ (MTD for ITSA). This plan means the UK’s two million landlords and their accounting partners are required to do quarterly filing of tax returns and keep digital records.

It sounds like hell, but Manoj Varsani MBE, Founder and CEO of Hammock, points out: “This is a time of great opportunity for both landlords and their accountants. Government changes in the form of MTD for ITSA is a clear signal that the digital future is on its way.”

Learning from his own experiences as a landlord, Varsani founded Hammock to offer bespoke banking, bookkeeping and property tax statements.

Landlords get access to a dashboard and mobile app to house their property finances in one place.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.

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