Physic Ventures, a venture firm backed by consumer goods companies Unilever and PepsiCo, as well as corporate venturing units Unilever Corporate Ventures and Intel Capital have helped recipe website Yummly.com raise $6m.
The corporate-backed firms were joined in the round by independent publisher The Harvard Common Press and venture firm Harrison Metal Capital and other angel investors. In November 2010, the company raised $1.85 million in seed funding from Intel’s corporate venturing unit, Harrison Metal Capital, First Round Capital and angel investors.
Andy Donner of Physic Ventures and Andy Porteous of Unilever have joined the company’s board.
Physic Ventures partner Andy Donner said: "Innovative solutions that help people cook and eat healthy, flavorful meals are core to Physic Ventures’ mission of investing in keeping people healthy. We believe that Yummly has the opportunity to assist both experienced cooks and newcomers in the kitchen by providing a comprehensive digital platform encompassing meal planning, procurement, preparation and participation."
Mike Buckley, managing director, Intel Capital, said at the time of Yummly’s seed round: "With its inventive and user friendly platform, Yummly is changing how people search for food and recipes. Our investment in Yummly is indicative of Intel Capital’s ongoing commitment to back technologies and solutions that represent the leading edge of innovation and will play a significant role in how end users interact with the Internet in the future."