Categories: Tech & Society

Berlin’s HelloFresh Raises $7.5 Million to expand service in U.S.

HelloFresh.com, a Berlin, Germany-based company that aims to make tasty, healthy meals at home as effortless as possible, has nabbed another $7.5 million to boost its market share in the U.S. and elsewhere.

This is the third round of financing for the company, which has now raised a total of $20 million. The Moscow-based VC firm Phenomen led the round, and Vorwerk Ventures and Holtzbrinck Ventures participated. Rocket Internet and Investment AB Kinnevik are existing investors.

The site lets home cooks choose from up to five new recipes created by professional chefs and nutritionists. The ingredients are then delivered direct to the customer’s door. The recipes take 30 minutes or less to prepare, only require basic kitchen equipment, and come with step-by-step instructions.

HelloFresh says it now shifts several million meals in its core markets. Since the last funding round in December, the company says it has quadrupled its revenue, and doubled its margins.

Via: VentureBeat

 

Team TechPanda

Recent Posts

DeepSource’s new autonomous AI agents promise to scan, fix code security vulnerabilities

As artificial intelligence (AI) continues to progress exponentially, the future of industries like software engineering…

3 days ago

Retail’s Return Rate Crisis: The Urgent Need for Proactive Solutions

The average return rate in eCommerce is estimated at 17.6% for 2024. Nearly 1 in 5 products…

4 days ago

AI Launches: Cybersecurity, AI Agents, product specs, business operating system, automobile, consumer & MSME lending, cloud, data streaming

The Tech Panda takes a look at recent launches in the superfast field of Artificial…

5 days ago

As India’s tech sector on track to surpass $300 billion, CEO of Ness shares insights into AI’s important role 

The tech sector in India has been going from strength to strength in recent years.…

5 days ago

Unknown & uncontrolled machine identities within organizations leading to emergence of new identity security challenges

Experts are saying that organizations are inadvertently creating a new identity-centric attack surface through growing…

5 days ago

Outbound & inbound: India attracts businesses from US & Singapore while expanding to UAE, Europe & Philippines

The Tech Panda takes a look at how India has been attracting foreign businesses from…

6 days ago