StiQ raises €20M from EIB to scale AI-powered cloud kitchen platform across Europe

Greek FoodTech startup StiQ has secured €20 million in financing from the European Investment Bank (EIB) backed by the InvestEU programme, as the Athens-based company scales its AI-powered cloud kitchen technology to transform food delivery across Europe through sustainable, data-driven operations.

Founded in 2022 by Konstantinos Davaris, StiQ pioneered the virtual restaurant model in Greece by integrating software, logistics, and food operations into a unified platform that enables efficient preparation and delivery of multiple digital restaurant brands from centralized culinary hubs. The company operates without traditional dine-in facilities, focusing exclusively on delivery optimization.

Central to StiQ's focus is their comprehensive AI-driven approach that combines demand forecasting, dynamic menu engineering, and inventory optimization with smart routing and grouped order delivery systems. This technology enables the company to reduce CO₂ emissions, minimize delivery times, and maintain consistent food quality while operating over 20 brands including Protein Garden, Dinas, and Healthy Concept from five kitchen hubs in Athens.

The platform's data-driven operations enhance food safety, customer satisfaction, and operational efficiency while serving a potential market of 3 million residents. StiQ currently employs 200 staff and demonstrates strong growth momentum with over €10 million raised to date, positioning the company for rapid European expansion.

The EIB financing, structured as venture debt with quasi-equity features, will accelerate development of StiQ's proprietary platform, deploy advanced AI features, and support expansion beyond Greece into new EU markets. The company plans to reach 30 hubs across Europe by 2029 while maintaining zero-waste targets and adopting electric delivery fleets for environmental sustainability.

Founders: Konstantinos Davaris, Stylianos Grigoriadis, Ippokratis Kouremenos

Sources: EU-Startups, EIB Press Release, Silicon Canals