Noahs raises EUR €1.9m to drive digital shift in convenience retail
Copenhagen-based food technology company Noahs has secured EUR €1.9 million in new funding to support a broader digital transformation of convenience retail. The round was led by PSV Tech, a Danish venture capital firm, with participation from individual investors including Kraen Nielsen, former CEO and CTO of Coop Denmark, and Bob Stein, President of RBS & Associates. Other shareholders, such as Torben Frigaard Rasmussen, also took part.
Sector context
The global convenience retail sector comprises more than three million locations, yet much of it still operates offline. Consumer habits are shifting, with nearly half of household food consumption now taking place away from home. Digital technologies and evolving food service models are drawing more customers, with 39% surveyed saying they seek out new venues based on technological features or variety.
Business model
Noahs provides software and modular kitchen infrastructure that aims to turn service stations, supermarkets, and travel hubs into multi-brand food destinations. Its three-part platform consists of a technology layer, brand streaming, and modular kitchens. The aim is to give retailers an accessible path to digital food service with minimal upfront costs.
Noahs reports revenue growth of over 200% over the last three years. Clients and partners include established players such as MAXOL, Q8, DSC, and MENY, with a current footprint that stretches across Europe.
Expansion plans
The investment is intended to help Noahs accelerate market entry into the US and the UAE, build further on its technology platform, and set the foundation for a potential Series A funding round in 2026.
"Noahs has a real opportunity to reshape the whole infrastructure of how food moves through retail. Our strategy is to be present in 10,000 locations by 2030 and become the backbone of a new digital economy by 2040. With the recent investment injection Noahs will accelerate its move from concept to category leader, powered by partners who understand that the future of retail food is digital, modular and global," said Daniel Baven, CEO & Co-Founder, Noahs.
Investor perspective
PSV Tech manages more than EUR €100 million in assets, with a focus on early-stage Nordic software companies. The firm invests primarily before product-market fit, and supports founders in achieving scalable growth.
"At PSV Tech, we are committed to working with founders who challenge the way industries operate. In NOAHS, we met a team with a bold vision for the future of retail and a clear sense of how the right tech solutions can create real value for convenience stores and retailers. Their approach blends deep industry insight with pragmatic automation to solve real problems and not just optimise for technology's sake. We're proud to back their journey," said Helle Uth, Co-founder and Partner, PSV Tech.
Industry trends
Digital technology is changing consumer interactions with convenience retail, both in Europe and the US. The US convenience-store industry, valued at approximately USD $860 billion, serves about 160 million customers daily. There is growing emphasis on retail digitalisation, with Europe seeing increasing food tech investment and innovation.
"With over 150,000 convenience stores serving 160 million daily customers in the U.S., retailers must navigate shifting consumer expectations and emerging technologies to remain relevant. Noahs is standing at the forefront of the food-tech revolution, empowering convenience retailers to accelerate their transition into the digital food economy which includes integration with a vast array of food service delivery options. With this significant investment Noahs has the potential to become the global leader of food-tech solutions for the convenience retail industry in the U.S., Europe and globally," said Stein.
