Richmond, VA, Aug. 10, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT), the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), today announced a CIT GAP Funds investment in Norfolk, Va.-based, ChowCall, a tech-enabled, on-demand food delivery service that provides meals and other goods to customers living and working on and around military bases and federal installations. Currently serving Hampton Roads, Virginia, Jacksonville, North Carolina, and Fayetteville, North Carolina, ChowCall will use this investment to expand into one-third of U.S. military base communities by the end of 2022.
Over six million Americans live and work on military bases. These communities have limited access to food and product delivery services because most third-party companies are not authorized to enter military bases, or not equipped with the base-specific address systems needed to fulfill orders. ChowCall solves these challenges by meeting base requirements for authorization and using vetted, trained, and credentialed drivers to deliver food and other goods to these communities.
"As a former military officer, I wanted to find a way to give back and deliver value to our military community, which historically has received limited conveniences such as food delivery services,” said Todd Waldemar, Founder and CEO of ChowCall. "Our goal is to eventually serve the entire military community. We are very excited to partner with CIT GAP Funds and thank them for their phenomenal support. We believe their investment will result in a significant economic impact in Virginia and beyond as we bring value to this underserved market."
ChowCall uses a proprietary technology that makes it easy for customers to order and for drivers to deliver. The ChowCall app has an easy-to-use drop down list of all base buildings, which increases order accuracy and convenience. ChowCall also partners with military commissaries, exchanges, and restaurants to revolutionize the quality of life of today's military heroes.
"Third-party food delivery service is so ingrained into daily life now. ChowCall has identified an opportunity to reach a community largely overlooked by current delivery providers and has delivered over 200,000 orders to 25,000 customers since launching in 2019," said Alex Euler, Senior Investment Director, CIT GAP Funds. "Over the next 18 months, ChowCall is positioned to grow rapidly and execute key strategic partnerships to accelerate sales. We are excited to follow their journey as they continue to expand their offerings."
About ChowCall
ChowCall is a tech platform whose mission is "delivering value to those who serve." We deliver food and other goods and services to military and civilian customers on and around military base communities. ChowCall is veteran-owned and operated, and 59% of its team members are military-affiliated. For more information, please visit: https://www.chowcall.net/.
About CIT GAP Funds | Investment Division | Virginia Innovation Partnership Authority (VIPA)
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean energy, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, CIT GAP Funds has deployed $32.4 million in capital across more than 240 portfolio companies, including 17 companies in designated Opportunity Zones. CIT GAP Funds' investment decisions are guided by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel has drawn from the expertise of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit https://www.cit.org/gap-investment-funds.html.
About the Virginia Innovation Partnership Authority (VIPA)
The Virginia Innovation Partnership Authority (VIPA) was established in 2020 to support the life cycle of innovation, from translational research; to entrepreneurship; to pre-seed and seed-stage funding, as well as acceleration, growth, and commercialization, resulting in the creation of new jobs and company formation. The Authority provides a collaborative, consistent, and consolidated approach that will assist the Commonwealth in identifying its entrepreneurial strengths, including the identification of talents and resources that make the Commonwealth a unique place to grow and attract technology-based businesses. The VIPA, with CIT as its operating arm, brings together components of existing and new program activities in an approach through which the whole is greater than the sum of the individual programs. VIPA's design includes governance and management capabilities to ensure that programs generate transformative and measurable results. For more information, please visit www.cit.org/vipa.
About the Center for Innovative Technology (CIT)
Investing in Virginia's Growth | CIT, the not-for-profit operations arm of VIPA, accelerates next-generation technologies and technology companies through commercialization, capital formation, and market development initiatives. Programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Commonwealth Commercialization Fund (CCF) | Virginia Founders Fund | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | Virginia Research Investment Fund (VRIF) | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.cit.org. You can also follow CIT on Twitter, LinkedIn, and Facebook.
