German e-commerce company HelloFresh, has closed $7.5m in Series C funding investors including Moscow based venture capital firm Phenomen Ventures, corporate VC firm Vorwerk Ventures and internet-focused Holtzbrinck Ventures.
Existing investors include Investment AB Kinnevik and Rocket Internet and the recent round brings the company’s total funding to $20m
HelloFresh was founded in January 2012 and is headquartered in Berlin with further offices in New York, London, Amsterdam and Sydney. Customers can choose a box containing recipes on its website, and all the ingredients are delivered direct to their door.
Since the last funding round, the company has quadrupled its revenue, doubled its margins and also saw significant improvements in a range of other operational metrics, it said.
Dominik Richter, CEO at HelloFresh, said, “We are delighted to have secured this new round of funding, which will allow us to continue our growth trajectory in existing markets, scale our operations, and continue to hone our service. After interest from a wide range of investors, the decision to select Phenomen VC was influenced by their experience in supporting truly global businesses – aligned with our ambitions to become a global leader in the online food space and establish HelloFresh as a global online food brand. It is our aim to use this funding to increase our market share in the US market and expand our very clear market leadership in all other markets by continuing our double-digit month-over-month growth.”
Phenomen Ventures is a $300m Moscow based venture capital firm and has previously invested in Onetwotrip, Fab.com, Hailo and Delivery Hero.
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