Prognolite raises fresh capital

Prognolite has gained the Innovation Foundation of the Cantonal Bank of Schwyz as lead investor for its financing round. According to a press release, the Cantonal Bank of Zurich in addition to “several experience business angels” were also involved in this process. Overall, the Winterthur-based start-up successfully raised a total of 1.25 million Swiss francs. Following this financing round, the company has been reclassified as a joint-stock company (Aktiengesellschaft), having previously operated under the legal status of a limited liability company (GmbH).

The Software-as-a-Service (SaaS) tool developed by Prognolite allows companies to optimize personnel planning processes and counteract food waste. The characteristics of the various players within the gastronomic industry are hugely diverse, comments Simon Michel, co-founder and CEO of Prognolite. For this reason, the fresh injection of capital is to be used to “further develop the product and align it with the requirements of additional customer groups. Moreover, we are planning further growth within the German-speaking market over the coming months”.

In this context, Urs Bischof is likely to be a great help in Germany, for example. He will be joining the Board of Directors at Prognolite. For several years, Bischof has been responsible for managing the gastronomic activities of Karstadt and Galeria Kaufhof, while has was also a Board Member of DEHOGA, the German Hotel and Restaurants Association. Prognolite has also been able to add another industry expert in the form of André Hüsler, the former CEO of the Swiss restaurant wholesalers Saviva, to its Board of Directors.

“Prognolite offers a solution that helps restaurants to realize enormous potential in personnel planning and the costs associated with this – and at the same time tackle the problem of food waste”, comments Hülser in the press release. He adds: “Especially during these challenging times, it is more important than ever for restaurants to efficiently deploy their resources”.