US-based meal delivery service Sun Basket secured $30m yesterday in a series E round that included Unilever Ventures, the corporate venturing arm of consumer products manufacturer Unilever.
Venture capital firm PivotNorth Capital led the round, investing alongside Sapphire Ventures, August Capital, Founders Circle, Baseline Ventures, Relevance Capital, Accolade Partners and Correlation Ventures. The round increased the company’s overall funding to $125m.
Founded in 2014, Sun Basket runs a subscription-based service that delivers organic produce, ingredients and easy-to-cook recipes to the homes of its users. The meal boxes are focused on clean eating and healthy foods, including vegetarian, vegan, pescatarian, gluten-free and diabetes-friendly options.
Proceeds from the round will be used to add new food products to its range, bolster the user experience through artificial intelligence technology, and support the formation of new strategic partnerships.
August Capital led a $42.8m series D round for the company in January 2018 that included Unilever Ventures, Sapphire, Accolade Partners, Founders Circle, Rembrandt Venture Partners, Vulcan Capital, Relevance Capital and Correlation, in addition to $15m of debt financing from Trinity Capital Investment.
Sun Basket secured $24.2m in a 2017 series C round led by Accolade Partners that also featured Unilever Ventures, Shea Ventures, the corporate venturing subsidiary of property developer JF Shea, Baseline Ventures, Founders Circle, Vulcan Capital, PivotNorth, Relevance Capital and Filter14. All the series C investors bar Unilever, contributed to a $15m series B round in 2016.
Kitchenware producer Tyler Florence Group is also a Sun Basket investor, having taken part in the $4.5m first close of its series A round in 2015.
The series A closed at $11.6m in 2016 following a $7.1m extension co-led by Vulcan Capital, PivotNorth and Robertson Stephens Partners, with participation from Rembrandt Venture Partners, Baseline Ventures, Correlation Ventures, Relevance Capital, Roth Capital and Filter14.
Photo courtesy of Sun Basket.