The year-old meal prep delivery company Blue Apron has raised an additional $5 million in Series B funding, enabling it to expand services to the West Coast and open a 30,000 square foot food distribution facility in Richmond, CA. This brings total investment in the company to $8 million.
It also fits neatly in recent numbers from NYCEDC that showed three-quarters of investment in New York companies comes at the Series B round or later.
Based in East Williamsburg, the company reports that it is now delivering 100,000 meals every month, enabling it to dramatically increase its purchasing power, yielding a healthy margin on each $9.99 meal. Subscribers get one delivery per week with all the ingredients and instructions needed to prepare meals and minimize waste. They offer vegetarian and non-vegetarian options.
On CNBC, the company’s CEO, Matt Salzburg, said that consumers get a much better price on their meals than they would if they tried to source and make the same meals themselves through the local grocery store.
With the expansion, Blue Apron’s team says that 80 percent of the U.S. population can access it’s service. Now they just need to convince consumers that their spin on grocery delivery is the right fit.
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