Investments

Plated Secures $35M in Series B Funding

New York-based premium cook-at-home meal service Plated secured $35 million in series B round of funding from existing investors Greycroft Partners and Formation 8.

The raised amount will be used to improve technology for the development of a low-waste supply chain and new regional fulfillment centers that connect customers to sustainably harvested, locally-farmed foods at honest prices, as reported by TechCrunch.

The company was founded in 2012 by Josh Hix and Nick Taranto. The startup was launched with a simple vision of reducing food waste by delivering perfectly portioned meals (in the form of ingredients and recipes) to users’ homes. Users need to choose from a menu of meals for that week, and depending on how many meals are ordered, the price can range from $12/meal to $30/meal for foods like scallops. It has 1,000+ unique recipes for its users and is planning to add more.

In August 2014 it raised $15 million in Series A round of funding from Greycroft Partners, ff Venture Capital, Formation 8 and others. Till now it has raised a total of $56.4 million in funding, including the latest investment round. The company has 400 employees across the country.


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