Canada's Chefs Plate Announces $6 Million in New Funding Led by Acton Capital Partners (CNW Group/Chefs Plate)
Country's fastest-growing meal kit delivery start-up to use funds to grow e-commerce team and expand nationwide
TORONTO, Sept. 20, 2016 /CNW/ - Chefs Plate, Canada's market leader in the fresh ingredient and recipe delivery space, today announced $6 million in new funding, led by Acton Capital Partners – a global 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 capital will be used to fund recruitment and market expansion across Canada, including a new fulfillment centre in Western Canada.
"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. "Our mission is to create meaningful connections through food. 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."
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.
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.
"Chefs Plate is changing the way Canadians eat," said Vancouver-based Acton venture partner, Hannes Blum. "In just under two years Chefs Plate has grown to be the leader in the meal-kit delivery category in Canada. 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."
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.
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.
About Chefs Plate
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. For more information, please visit www.chefsplate.com, or connect via social media on Facebook, Twitter or Instagram.
About Acton Capital Partners:
Acton Capital Partners (www.actoncapital.com) is a Munich-based growth venture fund for internet companies. It focuses on startups in the fields of marketplaces, e-commerce, e-services, digital media and SaaS. Acton invests in Europe and North America. The team has been working together successfully for many years and has invested in more than 65 companies since 1999. The most renowned investments include AbeBooks, Alando, AlphaSights, Ciao, Elitepartner, Etsy, HolidayCheck, Linas Matkasse, Lumas, mytheresa.com, OnVista and windeln.de. In addition to Chefs Plate, Acton is currently invested in Canadian companies Clio, Indochino and Mobify.
About Emil Capital:
Emil Capital is an entrepreneurial, private investment company based in Greenwich, Connecticut, and managed by the fifth generation of one of the world's most successful and venerable family business concerns. Emil seeks out companies whose goods or services are established and sought-after in their markets, and whose execution fosters consistently superior customer experiences. For more information, visit www.emilcapitalpartners.com.
With its team of seasoned entrepreneurs based in New York City and Toronto, BrandProject rapidly scales early-stage consumer businesses with Founders. BrandProject takes a strategic approach to building solid foundations, focusing on key business building pillars, and providing the financial and operational resources to succeed. For more information, visit www.brandproject.com.
SOURCE Chefs Plate
Image with caption: "Chefs Plate (CNW Group/Chefs Plate)". Image available at: http://photos.newswire.ca/images/download/20160920_C8664_PHOTO_EN_775611.jpg
PDF available at: http://stream1.newswire.ca/media/2016/09/20/20160920_C8664_PDF_EN_775348.pdf
For further information: or to request an interview with Jamie Shea or Hannes Blum, please contact: Andrew Findlater, V & Co., 416.659.1197, firstname.lastname@example.org