HelloFresh, the e-commerce service, which gives people the knowledge and ingredients they need to prepare delicious meals, has secured a new Series C funding round of $7.5 million from Phenomen VC. Vorwerk Ventures and Holtzbrinck Ventures also participated in this round. Together with the previous investments of Investment AB Kinnevik, Rocket Internet and others, the total amount of funding for HelloFresh is now a total of $20 million.
Dominik Richter, CEO at HelloFresh, stated: “We are delighted to have secured this new round of funding, which will allow us to continue our growth trajectory in existing markets, scale our operations, and continue to hone our service. After interest from a wide range of investors, the decision to select Phenomen VC was influenced by their experience in supporting truly global businesses – aligned with our ambitions to become a global leader in the online food space and establish HelloFresh as a global online food brand. It is our aim to use this funding to increase our market share in the US market and expand our very clear market leadership in all other markets by continuing our double-digit month-over-month growth.”
HelloFresh was founded in 2012 and is headquartered in Berlin. Since its founding, the startup has quickly grown to shipping several million meals in its core markets. HelloFresh recently stated it has quadrupled its revenue and doubled its margins since the last funding round.
HelloFresh customers in Germany, UK, Netherlands, US and Australia choose a box containing three to five recipes on their website, and all the ingredients are delivered direct to their door. As ingredients are portioned out into exact quantities, both cooking time and food waste are kept to a minimum, whilst their supplier relationships allow access to high-end restaurant quality food at everyday prices.
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