Mobile Commerce

HelloFresh Scores $50M To Expand ‘Ingredients In A Box’ Business

HelloFresh, a service that delivers a box of pre-measured ingredients and cooking instructions, has just picked up $50 million in the largest funding round of its kind to continue its European and U.S. expansion.

It is not the only company that offers this type of delivery service. Apart from differing slightly from the maker competitors like GrubHub that deliver prepared food, or the myriad of grocery and organic grocery delivery services out there, it is also a similar service to Blue Apron. Both companies provide users with a selection of boxed meals per week to choose from. Ingredients are pre-measured and cooking time of the meals delivered is around 30 minutes. The average cost between each box is $9-$13 dollars.

USA Chief Executive Seth Goldman says that although competitors are a thing he thinks about, mostly he just worries about making sure the product remains high quality.

“We have to coordinate fresh deliveries from six vendors to get the best fish, meat, poultry and produce,” he said. “It’s scary. Every morning I’m praying that no one has made an error,” he told The Wall Street Journal.

Goldman would not comment on the services valuation or revenue figures. The latest $50 million found follows a $20 million round that involved Holtzbrinck Ventures, Vorwerk Ventures, Rocket Internet and Kinnevik.

Moving forward, Goldman told the journal they aspire to help hardworking people eat healthy.

“We discovered that we’re not trying to be so fancy schmancy. We’re the company that gets food on the table every day for dinner,” Mr. Goldman said. “We recently changed our motto from ‘everything but the chef’ to ‘cooking made easy’ because not everyone aspires to be a chef. We have customers that work 80 hours a week that want an easy way to eat healthy and eat at home.”

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