Fresh meals delivered to your home weekly on a subscription basis have become a big business in recent years. Today that trend is confirmed as Scottish investment firm Baillie Gifford pumps $84.7 million or 75 million Euros into HelloFresh. Prior to this the startup had raised $193.5 million.
The company — billed as “wholesome home cooked meals with no planning, no shopping and no waste”, and now delivering 4 million meals per month — says it’s now worth 2.6 billion Euros post money. That would make it a European Unicorn, or Eurocorn, as I like to call them. Just go with it…
It’s now operating in seven different countries and claims net revenues of 70 million Euros in 2014, a 392% annual growth rate. Rocket’s ownership is set at 57.2%.
The space is heating up, with U.S.-based competitor Blue Apron valued at $2 billion, and there are plenty of other variants on the recipe kit theme such as Gousto, Marley Spoon, and Shuttlecook.