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Italian food company Porta raises CAD 10.5m in Series A funding

Canada-based traditional Italian food company Porta has announced that it has raised CAD 10.5 million (approx. $7.935 million) in a Series A round of funding. Porta was created as a new venture in 2021 by Canada-based Italian restaurant brand Terroni and VC fund BrandProject. The round was led by Terroni – through its parent company Gruppo Terroni – BrandProject and the Toskan Family Trust (TTFT). The funding comes after Porta’s expansion into nearly 100 speciality grocery stores in Ontario, Canada, and will be used to continue its retail expansion and support its growing direct-to-consumer business. Jason Cassidy, founding general manager at Porta, said: "Our business continues to evolve into an omnichannel CPG company. This funding will allow us to continue to innovate on new product categories, expand into new markets and invest in strategic shopper and trade marketing initiatives." Porta offers authentic frozen ready meals made with premium Italian and locally-sourced ingredients that are ready to eat in 15 minutes or less. Cosimo Mammoliti, CEO of Gruppo Terroni, commented: "Our mission is to make every cook feel like a chef and we do that by making it easier to access, order and cook the best that Italy has to offer right in your home.” Brett Toskan, president of TTFT, added: "Porta offers something unique to Canadians, which has allowed it to quickly differentiate itself from other home meal solutions. As an investor, we've been impressed by the rich history and passion for product quality that the Terroni team has, and by the strong team they have brought together. We look forward to supporting Porta in its continued growth."

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