Meal preparation software provider Meallogix has raised $1.25 million in an oversubscribed seed funding round.
The San Diego-based start-up’s software automates operations and business processes for meal prep company owners.
Meallogix claims to remove operational barriers and digitise every step of the supply chain, including order intake, nutrition label and shopping list creation, ingredient conversion and recipe costing.
The Meallogix dashboard is said to provide important financial insights to meal prep business owners, showing them which menu items drive profits and which do not.
“To raise seven figures during a seed round, have it be oversubscribed, and achieve that during a global pandemic is a testament to the exceptional product we offer and the team behind it,” said Meallogix founder and CEO, Ted Stearns.
The company says that it will use the new funds to continue to build out the Meallogix platform, scale operations, grow its global team and expand partnerships.
According to data from Statista, supplied by Meallogix, the meal prep market was valued at $4.65 billion in 2017, nearly three times its valuation of the previous year. By 2022, it’s expected to more than double again to $11.6 billion.
No details on the investors were provided.
© FoodBev Media Ltd 2020
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial