German recipe-based ingredients delivery service HelloFresh has announced the closure of series D funding of $50 million. The round is led by New York-based Insight Venture Partners with the participation of existing investor Phenomen. The three year old company who now employes more than 120 people serving 1 million meal kits a month, will use the fresh capital to grow further in Europe and expand westward in the USA.
Berlin-headquartered company offers a wide selection of meal ingredient kits based on recipes that are delivered with the recipe card containing cooking instructions. The meals cost between $9 and $11 with subscription, and a bit higher without. The company who has grown very quickly in Germany, later opened offices in New York, London, Amsterdam, Berlin and Sydney.
The idea that hybridize conventional cooked food delivery with fresh grocery delivery, has proved to be very popular, especially in the NYC, so that the company’s sales has surpasses its NY-based rival HelloFresh by some 400,000 kits a month. Competitors in the market also include FreshDirect and Plated.
The company previously raised $20 million from investors including Holtzbrinck Ventures, Vorwerk Ventures, Rocket Internet and Kinnevik.