Germany-based recipe kit delivery service HelloFresh secured $50m in its series D round yesterday from venture capital firms Insight Venture Partners and Phenomen Ventures.
An alumnus of internet incubator Rocket Internet, HelloFresh raised $17.5m across its series B and C rounds in December 2012 and September 2013 from Vorwerk Direct Selling Ventures, a corporate venturing subsidiary of household goods and cosmetics retailer Vorwerk, as well as Holtzbrinck Ventures and Kinnevik.
Founded in 2011, HelloFresh enables customers to sign up for three to five recipes a week, for which the ingredients are delivered to their door. It currently ships over a million meals to its customers each month and claims to have recently reached profitability in the European market.
“We have the unique opportunity to change the way people think about dinner by offering them a hassle-free way to enjoy high-quality and healthy, self-cooked meals with their partner or family in their own home,” said Dominik Richter, the founder and CEO of HelloFresh.
“We aim to establish a whole new category on the wider grocery market and to build up a truly global consumer food brand.”