Chefs Plate – Canada’s meal-kit pioneer closes $6M Series B led by Acton Capital

by | September 20, 2016

TORONTO/MUNICH, September 20, 2016 — Chefs Plate, Canada’s meal-kit pioneer and market leader in the fresh ingredient and recipe delivery space, today announced $6 million (CAD) in new funding, led by Acton Capital — an international investment firm associated with a long track record of investing in successful e-commerce brands. Existing investors, Emil Capital and BrandProject, also participated in the round. The fresh capital will be used to fund recruitment and market expansion across Canada, including a new fulfillment centre in Western Canada.

Chefs Plate is experiencing rapid growth. The company will double its current workforce within the next 12 months, translating to over 100 new jobs in Toronto and Vancouver, BC. The news marks the latest in a series of milestones for Chefs Plate. In June 2016, the company announced delivery of 100,000 meal-kits monthly, a new family plan, and extension of delivery outside of Ontario to B.C., Alberta and Manitoba.

“Our mission is to create meaningful connections through food.

Jamie Shea, Chefs Plate

 

“With this new capital, the focus will be on supporting our rapid growth, including hiring top talent across all divisions,” said Jamie Shea, Co-Founder, Chefs Plate. “These funds allow us to offer more Canadians well-priced meal-kits with farm-to-table ingredients that are often fresher and less costly than the grocery aisle.”

“The investment will also expand direct relationships with Chefs Plate’s supply chain of Canadian growers, farmers and producers that allows for food to go directly from its network of artisan farmers and purveyors to customers’ kitchens within three days — or three times faster than grocery stores,” explains Jamie Shea.

“Chefs Plate is changing the way Canadians eat.”

Hannes Blum, Acton Capital

“In just under two years Chefs Plate has grown to be the leader in the meal-kit delivery category in Canada”, said Acton Capital’s Vancouver-based venture partner, Hannes Blum. ” The company’s unique model makes it very well-positioned to grow quickly while preserving its value propositions of freshness, quality and convenience at a highly competitive price.”

Chefs Plate prioritizes the purchase of Canadian grown and farmed produce, dry goods, meats, seafoods and specialty foods. Each month, the Toronto-based start-up ships approximately 200,000 pounds of food comprised of fresh, Canadian-sourced produce, meats and seafoods.

Chefs Plate, Canada’s leader in the meal-kit delivery market, delivers pre-portioned, locally-sourced farm fresh ingredients and easy-to-follow recipes in refrigerated kits right to its customers’ homes, all at $10.95 per plate or less. It’s cooking made easy. As a food-tech company, its innovative business model connects people to local farmers and purveyors, re-investing in Canada’s farm-to-table platform. The company was founded in 2014 and has grown to 125 employees.

Über Acton Capital Partners

Acton Capital Partners ist ein internationaler Wachstumsinvestor mit Sitz in München. Seit 1999 investiert das Acton-Team erfolgreich in digitale Pioniere in Europa und Nordamerika.

Investmentfokus liegt dabei auf skalierbaren Geschäftsmodellen aus den Bereichen Future of Work, Digitale Marktplätze und Plattformen, Ecommerce, FinTech sowie Software-as-a-Service.

Bettina Engert Administrator
Director Communications , Acton Capital

 

About Acton Capital
Acton Capital is a leading growth venture capital investor in Europe. Since 1999, the Acton team supports digital startups in the fields of marketplaces, e-commerce, SaaS, FinTech or Future of Work on their way to market leadership. Acton Capital invests worldwide with strong focus on Europe and North America. With two decades of investment experience and a deep understanding of tech-enabled business models, the team has invested over EUR 500+ million across five fund generations.

 

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