Northfork announced raising SEK 10 million from J12 Ventures et all.

Northfork, a Stockholm, Sweden-based SAAS developer for the food industry, announced that it raised a capital investment round of SEK 10M ($1.1M).

The money round was led by Swedish investor J12 Ventures and included contributions from DHS. Proceeds will be used for product development and business expansion in US, building on a recently signed contract with Walmart.

Northfork is a product spinoff from Gastrofy, founded in 2016 by Erik Wallin, Robin Rendahl (CEO) and Rickard Ranniger. The product is a SAAS platform sold as a white label to grocery retailers, helping them structure sales by recipe and meal solutions.

Gastrofy had a 2019 turnover of SEK 16 million ($1.8M) and raised money from Karl Erik von Bahr in 2017.