After Netflix of meals, Gousto gaining a lot recognition within the UK, it’s time for Etsy of meals! We’re speaking about, HomeCooks, the UK’s first market for impartial meals creators, which has just lately raised a $3.1m Seed spherical to gasoline its growth throughout the UK.
The spherical was led by Speedinvest, with participation from DFF (together with Simply Eat Founder Lauren Groenendijk), Love Ventures, Rianta, and several other main UK angels from the Ventures Collectively Consortium.
The London-based firm is at the moment topping up the spherical on the crowdfunding platform Seedrs, enabling its neighborhood of meals creators to grow to be shareholders within the enterprise.
Why Etsy of meals?
HomeCooks is the most important market of its type within the UK. Relatively than merely connecting cooks and customers, HomeCooks facilitates everything of its companion cooks’ operations, by accumulating, freezing, storing, and dispatching the meals of their meals. Unbiased meals creators make pre-prepped meals in batches and ship them to HomeCooks who merely freeze, retailer, and distribute them on their behalf. The tip customers get to learn from an ever-growing number of 200+ home-cooked meals that value lower than the typical meal from mainstream meals supply firms and are way more thrilling and wholesome than a standard ready-made meal.
“The hospitality trade is damaged and we purpose to rebuild it,” mentioned Founder Joshua Magidson. “Particularly meals supply – it’s like a Victorian trade. Powered by low-paid labour, poor working situations, and razor-thin margins pushed by employees prices and meals inflation, it’s almost unattainable to make a standard meals operation work. 60% of eating places shut of their first 12 months.”
“For our cooks, they merely concentrate on cooking pre-prepared meals in bulk which means they’ve only a few overheads. Promoting on HomeCooks is likely one of the most worthwhile issues that they will do in the complete trade. It’s additionally tremendous versatile – as soon as their meals is made, we decide it up, freeze it, retailer it, and dispatch it for them.”
Joshua Magidson has in depth expertise within the meals and meals tech trade. His first enterprise Eatstudent – an early meals supply market for college kids was acquired by Simply Eat.
He later based Zing Zing, which grew to be the most important Chinese language takeout chain within the UK. It was throughout this era that he grew to become disillusioned with the complete meals supply trade. HomeCooks began as a grassroots neighborhood motion on Fb throughout lockdown in 2020. Cooks posted their menus within the group and customers ordered within the feedback beneath the publish. It supported 100s of furloughed cooks by means of a devastating time for the trade, and this MVP enabled HomeCooks to boost a pre-seed spherical from a number of notable angels together with Leonard Picardo, one of many founding workforce at Deliveroo.
Since then, HomeCooks has constructed its personal tech, and now has over 200 meals out there to buy from impartial cooks. It has served 60,000 meals to over 7,000 clients within the final 12 months alone, and now serves many of the UK.
Funds from this spherical will see HomeCooks proceed to develop throughout the UK, with the ambition of enabling 1000+ meals creators to promote their meals on the platform. “We’re already seeing super-fast development,” added Magidson. “We’re already 600% up on final 12 months and have seen 70% month-on-month development from August to October.”
“The mission is to alter the way in which individuals eat perpetually.” Mathias Ockenfels, Normal Companion at Speedinvest main the agency’s Marketplaces & Client workforce, mentioned: “We’re thrilled to steer HomeCooks’ $3.1 million seed spherical, supporting their mission to revolutionise the meals trade by empowering impartial meals creators. HomeCooks is greater than only a market – it may possibly streamline the complete course of for cooks and supply shoppers with a various vary of high-quality, inexpensive, wholesome meals. We imagine in HomeCooks’ potential to remodel how individuals eat at dwelling and are excited to be a part of their journey.”
The publish Etsy of meals: London-based HomeCooks bites $3.1M to assist small meals companies promote their meals nationwide appeared first on Tech Funding Information.