Nesto raises €11m from Expedition to scale AI workforce management for restaurant groups

In short: Nesto Software GmbH, a Karlsruhe-based workforce management platform for restaurant groups, has raised €11 million in growth equity from Expedition Growth Capital, a London and Boston-based fund that targets bootstrapped European software businesses with more than €5 million in annual recurring revenue. The company, founded by engineers from the Karlsruhe Institute of Technology, manages scheduling, demand forecasting, HR workflows, and payroll preparation for more than 3,000 restaurant locations and more than 100,000 daily employee shifts across Europe. Nesto had never taken institutional funding before this round. The investment will be used to accelerate product development, expand sales and marketing, and extend NORA, Nesto’s AI assistant, into a broader agent framework for restaurant back-office workflows.

Built without institutional capital

Nesto was founded in Karlsruhe by Felix Kaiser, who serves as Co-Founder and CEO, and Dr. Theodor Ackbarow, Co-Founder and Executive Chairman, both of whom trained as ...