HelloFresh, the European startup that delivers portioned groceries and corresponded recipes for you to cook at home, has just announced the close of a $126 million Series E funding round led by previous investors Rocket Internet and Insight Venture Partners.
This brings the company’s total funding to $193.5 million.
The news comes in the wake of a rush of activity for Rocket Internet on the food front: Rocket Internet earlier today announced that it had gobbled up 9 other food delivery startups across Asia and Europe, and invested $586 million into one of its longstanding rivals in online food delivery, Delivery Hero. The holding company is also consolidating its food delivery efforts into a new business division.
As of June 2014, HelloFresh said it was delivering more than 1 million meals per month. The company says that it is capable of delivering food to 420 million people across the globe.
Here’s what U.S. CEO Seth Goldman had to say about it:
HelloFresh aims to become the leading brand in the grocery and meal delivery category and already serves customers across the entire U.S. Over the past few months, we have grown our operations extremely fast, which means that a lot more people now enjoy a delicious, home-cooked meal more often and without the usual hassle. We are constantly opening up new ways to eat healthier and enjoy more quality time around the dinner table. That’s very motivating and inspires us to take the company to the next level.
Not unlike Plated or Blue Apron, HelloFresh delivers weekly ingredients and recipes to your home for around $10, depending on the contents, per person. The premise itself has worked well for all companies in the space as they have an accurate idea of demand and buy that wholesale without wasting a thing.
HelloFresh goes above and beyond by offering vegetarian options as well as options to buy food for four people, instead of just two.
The company raised a $50 million Series D from Insight Ventures back in June.
Today’s financing will go toward new hires (at least 100 new employees), as well as new facilities, improvements to the supply chain, and general improvement to the consumer experience. Currently, the startup operates in the U.S., UK, Germany, Netherlands, Australia, Austria, and Belgium.
Learn more about HelloFresh here.