Having already raised a $1.4 million seed round in May, the meal ingredient delivery service Plated announced on the Techstars Demo Day stage that they will begin raising their Series A in the near future.
Plated caters to gourmets who are too busy to deal with the hassle of shopping for ingredients on a weeknight. Pick a recipe, and Plated delivers a box of all the necessary components to your door for as little as $10 per plate. Non-members pay a few dollars more.
CEO Nick Taranto said that since the company launched in November it has been growing 50% month over month. In the last six months, they have delivered more than 100k meals.
The company will also begin expanding its delivery service in the next few months. Plated currently delivers in the Northeast and Midwest, with plans to reach the west coast, the Southeast, and the Southwest. In early May, Plated launched a social feature called “Social Recipe Pages” so users could share photos and cooking tips.
Taranto sees food service as the final frontier of ecommerce, as it represents only 1% of online sales today. Plated has been able to boost its margins by cutting out two major costs in the traditional food industry, spoilage and overhead.
Plated is currently backed by ff Venture Capital and angels including Manischewitz Company CEO Alain Bankier, Andrew McCollom of Facebook, and LA-based investor Paige Craig.
