Home Chef secures growth capital
May 4, 2016
by Bob Sims
CHICAGO– Meal kit delivery service, Home Chef, has announced its continued expansion of consumer services due to $10 million in Series A funding. The investment is led by Shining Capital and Guild Capital. Home Chef has plans to open a West Coast distribution facility and expects to raise additional capital.
“In the meal kit delivery service space, there are a growing number of players focusing on providing consumers with fresh ingredients and unique recipes, but Home Chef is creating a service that brings variety, flexibility and simplicity to home-cooking in a way that no one else has,” said Pat Vihtelic, founder and CEO of Home Chef. “We have a long way to go before our service and others begin running into each other. The market for food in the US is massive, and as more people become aware of the convenience of cooking with meal kits, we are able to continue to grow and bring fresh ingredients and delicious recipes to people’s kitchens.”
The company’s current staff consists of more than 400 employees and it delivers more than 540,000 meals monthly of pre-portioned, fresh ingredients with step-by-step instructions for preparation. The culinary team at Home Chef produces a new menu of 13 meals a week.
The service is available to more than 90 percent of the American population and retails for $9.95 per serving with free shipping for orders of $40.00 or more.
Shining Capital is an investment management company with a pool of charitable assets donated by one of the most influential entrepreneurs in China and a team of 22 investment professionals.
Guild Capital is a venture capital firm that seeks out innovation across disparate geography and diverse industries.