Plated Dishes on $35M Series B Financing

Plated — a New York startup that delivers pre-portioned, fresh and locally-sourced ingredients for designated meals that its customers can cook at home — has raised $35 million in Series B financing.

The financing, which was announced on Thursday (July 16), saw participation from two existing investors, Formation 8 and Greycroft Partners. Plated said it will use the funding to “extend its leadership position in food sustainability,” while also honing in on developing a low-waste supply chain, and building new regional fulfillment centers. Plated will also be looking to expand its roster of 1,000 menu choices.

The latest tally brings the total funding raised by the company to $56.4 million in funding since inception, according to TechCrunch.

The company traces its genesis to June 2012, and brings a combination of ingredients and recipes to its customers’ homes. Through a set menu of meal offerings on a weekly basis, consumers choose the meal, receive the pre-portioned ingredients, and then get to prepare that choice at their own leisure. The price tiering structure is based on the number of meals ordered, with a range per meal of between $12 to $30 each.

Plated touts its process in bringing meals to doorsteps, with an emphasis on sustainable and local farming and ingredients.

“At Plated we are focused on building our company for who we call the ‘Evolved Eater’: Americans who care about food quality and transparency, and eating better for themselves and their communities,” said Nick Taranto, Plated co-founder and co-CEO, in the release announcing the funding. “We are putting ingredient and environmental standards first, offering our customers a greater selection of antibiotic and hormone-free meats, sourced from local farms, fishermen and hand-selected local businesses.”

TechCrunch said the food delivery startup – which operates in an increasingly competitive market, has been investing in its shipping materials and methodology. There’s a recently-instated insulation process that uses 100 percent recycled materials, a practice that the company has used to bring its carbon emissions down by 95 percent.

And in terms of technology, the company brought out its iOS app five months ago.

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