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Meal Kit Company FreshPrep Raises $7 Million in Series A Funding Round

Meal Kit Company FreshPrep Raises $7 Million in Series A Funding Round


VANCOUVER, CANADA
Thursday, May 14th, 2020

As the meal kit category sees a resurgence, both new and practiced players are making moves to excel in the market. The latest to make our headlines is Canada-based FreshPrep, working day and night to maintain its upward trajectory. The meal kit delivery service recently announced a monumental investment, securing $7 million CAD (almost $5 million in USD) in a Series A round funding.

Becky Bauer, Co-Chief Executive Officer and Co-Founder, FreshPrep“Our growth to date has been a result of automation and a focus on our customers,” said Becky Brauer, Co-CEO and Co-Founder. “We’ve been able to optimize margins and constantly improve our product and service through our focus on technology and innovation.”

The announcement follows a few new moves in meal-kit growth, such as the continuous product and physical expansion efforts of Blue Apron and, as reported by our sister publication, Home Chef.

FreshPrep recently announced a monumental investment, securing $7 million in CAD Series A round funding

For FreshPrep, the company reportedly plans to use this new funding to invest in expanding its fleet of employees as well as upping its technological prowess, according to news source betakit.

The funding came primarily from leading sustainable venture capital firm Renewal Funds, and FreshPrep has added Renewal Funds Partner Genevieve Pinto to its Board of Directors.

Genevieve Pinto, Board of Directors, FreshPrep, and Partner, Renewal Funds“We’re thrilled to partner with an innovative business that not only advances our mission of supporting technology and consumer products companies that are good for people and the planet, but also one that has been rapidly growing, while demonstrating profitability,” added Pinto.

The vertically-integrated subscription-based service has received unprecedented demand as of late and lauds its technology-focused business model as the key to keeping up.

As food companies continue to forge a wider path in the digital marketplace, Deli Market News will bring you the latest.

FreshPrep