CED Tech Venture profile: Myxx, technology that helps you answer ‘What’s for dinner?’

Triangle startup Myxx offers proprietary technology to analyze your web browsing habits, purchase behavior, and shared recipes as well as industrial and seasonal trends to help you decide “What’s for dinner?”

“My Recipes. My Likes. My Myxx” is how CEO Monica Wood signs her email.

Myxx reflects that, not only targeting consumers but also retailers who want buyers to purchase their products for recipes.

“Our proprietary technology analyzes data from user’s browsing habits, purchase behavior, shared and previous recipe history, as well as industry and seasonal trends in order to display ideal recipes that are mapped with products in the grocery store that fit their preferences and goals,” Wood says.

“Myxx provide meaningful insights from others in their social networks giving ratings and reviews of recipes context and meaning. Myxx leaps beyond the competition by offering all of these features from one convenient location. Better yet, it all works with the local retailers.”

Myxx is among the presenting companies at CED Tech Venture on Tuesday and Wednesday in Raleigh.

This profile is the latest in a series published by WRAL TechWire in partnership with the CED.

The Q&A:

What is the focus of your business?

Myxx answers the question “What’s for dinner tonight?”. As an intelligent recipe-centric social solution, Myxx reimagines the recipe and grocery shopping experience, allowing consumers to easily search, share and select recipes, quickly purchase the ingredients and have them delivered.

Simultaneously, Myxx provides retailers and brands a new channel to support their digital marketing initiatives, increase customer loyalty and attract new customers in the growing and competitive food market.

What is the top pain point/business application you are seeking to address?

Consumers want to easily answer the nagging question of what to fix for dinner, while retailers and brands are faced with the task of providing solutions for their customers and solving their own strategic interests at the same time. Today the recipe process is disjointed. First you must search online through sites like Facebook, Pinterest or your food favorite blog to find a recipe you want to fix.

After identifying a recipe and the list of ingredients and tools needed to prepare, you then have to create your shopping list either by hand or via another app – taking all of your dietary goals and restrictions into consideration. Once your list is complete, you now must head to the grocery store to purchase the items and hope you haven’t missed anything. Finally, you must revisit the source of the recipe to view the instructions and preparation details.

Brand and Retailers are constantly searching for ways to provide added value to their customers and gain the competitive edge in the crowded food market – slashing prices and deep discounts aren’t cutting it anymore. Brands need to promote and sell their products while retailers want to capture 100% of the cart.

What makes it unique?

Myxx solves the meal selection process in an ‘everyday’ solution consumers are hungry for by simplifying the required chore of deciding what to fix for dinner and purchasing all of the ingredients. Myxx puts recipes into action. From recipe socialization and selection to ingredient ordering and fulfillment, Myxx provides consumers with an easy and convenient grocery shopping experience within a comprehensive, on-demand framework.

Our proprietary technology analyzes data from user’s browsing habits, purchase behavior, shared and previous recipe history, as well as industry and seasonal trends in order to display ideal recipes that are mapped with products in the grocery store that fit their preferences and goals. Myxx provide meaningful insights from others in their social networks giving ratings and reviews of recipes context and meaning. Myxx leaps beyond the competition by offering all of these features from one convenient location. Better yet, it all works with the local retailers.

Why should investors be interested in your firm?

US Market

$700 Billion expenditure food at home
Approximately 4% online today
Married couples 25-45 65%
By 2023 138 billion dollars a year spent on groceries online
Families 25-44 account for $90 billion
Middle to high income families account for $54 billion 40% of grocery spend
Need help eating healthy
Families are eating together (71% want to eat together regularly)
Families want retailers to help them achieve their goals

Myxx’s Target Market: Families 25-44 with mid- high income

77% of families 25-44
25% of families
40% of grocery spend
By 2023 Myxx addresses a $54B Market

While Myxx targets the consumer market, our true customers are businesses, supermarkets, small retailers, and brands looking for new ways to engage this population. Through our white labeled B2B solution, grocery chains can have this functionality seamlessly added to their websites, mobile apps, and in-store promotions.

They have heard the interest from consumers regarding more context in how to use the 42,000 products in store, and this is a great way to do so. In addition, brands and retailers gain valuable insights from our data sets arming them with better targeting capabilities to more effectively allocate their spend for increased ROI.

Business facts: