VENTURE CAPITAL INCREASING
Hello Fresh received an $85M Series F investment on September 17, 2015, a little over 6 months after a $126M injection. That brings the fresh food subscription category leader with a valuation of $2.6B Euros to a total of $278.5M in funding received. An IPO is in the works.
Blue Apron has taken a total of $193M in funding, including a whopping $135M Series D on June 9, 2015. However, head-to-head in meals delivered, Hello Fresh is still ahead of Blue Apron with 6.1 million monthly meals compared to Blue Apron’s 5 million.
Plated took in $35M in July 2015. That’s a significant amount of capital even though it pales in comparison to the two alpha dogs already mentioned.
Home Chef hasn’t made much noise yet, but a recent Series A investment of $5M in September of 2015 may give the Chicago-based startup some much-needed capital to build brand awareness and market presence.
Peach Dish, meanwhile, keeps slugging it out as a bootstrapped venture and has evolved the least.
A LOOK AHEAD
While we are still waiting for the ability to customize meals according to the skill level of the cook, Plated has impressed of late with a variety of changes including their “Chef’s Table” option to include higher end ingredients. We’re expecting big things from this group. We suspect Hello Fresh and Blue Apron will continue to compete to acquire new customers faster than anyone else can given their outsize funding and ability to deploy marketing spend. Peach Dish, who impressed us first time around with their underdog charm, seems to have evolved the least. It will be exciting to see if upstart mission-driven brands like Purple Carrot can hold their own and build an earth-changing way-of-life out of cooking dinner.
As always, we at MBLM are keeping our eyes and onions peeled, so please send us new brands to consider by contacting us here.