Home Feature Charlotte-based Cloosiv Merges with Odeko and Raises $12 million Series A to Reimagine Mobile Ordering

Charlotte-based Cloosiv Merges with Odeko and Raises $12 million Series A to Reimagine Mobile Ordering

by Maija Ehlinger

In a not-so-distant past, meeting someone for a cup of coffee at your neighborhood coffee shop was part of the regular rhythm of life. For many, these shops served as office places and social spots for those looking for their quick caffeine fix and a cozy place to hang out.

But even with COVID-related shutdowns, the need for a quality cappuccino or a sweet morning scone has not gone away. While more local coffee shops see the need for mobile ordering and takeout options, the operational and technical capabilities required have been difficult for small businesses to get off the ground. 

Now two technology companies, Cloosive and Odeko, believe together their ‘farm-to-customer’ app can help both how we order from local shops and how owners keep their shelves stocked. 

After closing a $12 million Series A round, Charlotte-based Cloosiv announced this week it will merge with New York-based Odeko.

Cloosiv is designed to help small businesses easily integrate mobile ordering and pickup into their current system, something that is essential now for physical distancing guidelines. Odeko’s platform leverages AI technology to help coffee shops to streamline, optimize and centralize ordering to help small shops keep ahead of costs.  

“We’ve both built self-sustaining, complimentary products on our own,” Cloosiv Founder and CEO Tim Griffin told Hypepotamus. “But, together we can integrate that tech and build the first and only end-to-end platform for [small and medium-sized businesses], and that’s what’s most exciting about this.” 

But Griffin also sees the merger as an opportunity to educate consumers about products that go into their cup of coffee or favorite pastry. 

“If you were to use our app to order ahead for a latte, should you be interested we could provide you with much more information about where the beans came from, who the dairy farmer is, etc.,” said Griffin. “We can then allow you to engage with those suppliers, creating a genuine supply chain connection that doesn’t exist today.”

“The opportunities are endless by tying [Cloosive and Odeko] together, and we really aim to help these owners efficiently scale their businesses to whatever size they’re comfortable with!” 

According to a statement released about the merger, other near-term goals include sharing sales forecasts to help reduce waste at cafes and dropping transaction fees. 

Cloosiv also raised $1 million in seed funding this past October. GGV Capital led this round of funding, with additional investors including First Round, Primary Venture Partners, Box Group, Addition Ventures, Two Sigma Ventures, Bar 9, Balius, i2bf, and Y Combinator.  

The two companies will officially relaunch under the refreshed “Odeko” brand on September 1st.

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