HelloFresh, the Germany-based meal kit delivery service backed by e-commerce group Rocket Internet, has received €85m ($88m) in funding from investment firm Bailie Gifford and an unnamed new investor, Gründerszene reported yesterday.
Founded in 2011, HelloFresh operates a subscription-based service that allows customers to order meal kits that are delivered weekly. They contain recipes along with the ingredients required to make the dishes.
Rocket Internet’s stake in the company was diluted from 56% to 53% in the latest round, which was closed at a flat €2.6bn valuation, the same at which Bailie Gifford invested almost $85m in HelloFresh in September 2015.
The company has now raised more than $365m in funding altogether, having received $10m from Rocket Internet as well as Vorwerk Direct Selling Ventures, a subsidiary of direct sales company Vorwerk, Holtzbrinck Ventures and Kinnevik in 2012.
Rocket Internet subsequently added $115m in funding in February 2015, after Insight Venture Partners and Phenomen Ventures had invested $50m the year before. HelloFresh filed in October 2015 to raise €300m in an initial public offering but withdrew the IPO a month later.