US-based meal delivery service Sun Basket has received $57.8m in debt and equity financing, including $42.8m in a series D equity round featuring consumer products manufacturer Unilever.
Venture capital firm August Capital led the equity part of the round, which included Sapphire Ventures, Accolade Partners, Founders Circle, Rembrandt Venture Partners, Vulcan Capital, Relevance Capital and Correlation Ventures.
Unilever invested through its Unilever Ventures unit, and the debt portion of the financing was provided by Trinity Capital Investment.
Founded in 2014, Sun Basket runs a meal delivery service focused on healthy food and clean eating, and reached a $275 million annual revenue run rate at the start of this year.
The company will shortly open two new distribution centres in the Midwest and east coast of the US it estimates will allow it to reach 98% of the continental US. It also intends to introduce vegan, Mediterranean and pescatarian options for its meals in 2018.
Sun Basket has now raised approximately $110m in financing altogether. Shea Ventures, the corporate venturing arm of property developer JF Shea, is also a backer, having participated in its $15m series B round in mid-2016.
The series B round also featured Baseline Ventures, Founders Circle Capital, Accolade Partners, Vulcan Capital, PivotNorth Capital, Relevance Capital and Filter14.
Kitchenware producer Tyler Florence Group had invested in Sun Basket as part of its $4.5m seed round in 2015, alongside Baseline Ventures, PivotNorth, Vulcan, Rembrandt Ventures, Relevance, Correlation Ventures and Roth Capital.
Unilever Ventures and Shea Ventures also contributed to Sun Basket’s series C round, which closed at $24.2m in May 2017, along with Sapphire Ventures and all the series B participants.