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Food and Beverages | Tuesday, April 27, 2021
Capital raise will help the completion and commercialization of leading software serving the meal preparation industry.
FREMONT, CA: Meallogix, the premier software that automates processes and business operations for meal prep firm owners, announced today that it has successfully closed its oversubscribed Pre-Series A capital raise led by Tech Coast Angels, with participation from Spark Growth Ventures.
Meallogix will leverage the funds to continue building its front- and back-end enterprise resource planning software, expand its reach in the United States, release an online learning platform specific to the meal prep sector, and add several key leadership roles to the firm. It is exciting to help a company that provides a growing sector solution experiencing a real requirement for automation. The company has great confidence in the Meallogix vision, platform, and the team behind it.
The company is immensely proud to be backed by two of the most reputable investment firms in the tech sphere. To have the assistance of Tech Coast Angels and Spark Growth Ventures validates the demand Meallogix is helping fulfill. The financing round brings the amount of capital raised by Meallogix to $3 million.
Another key statistic is that 80 percent of consumers participating in meal prep order their meals from thousands of independently owned and run meal prep companies instead of large national brands. The industry is evolving at an immensely rapid pace, with no signs of slowing down, and Meallogix is here to help that growth.
Meallogix remediates the most prevalent and crippling problem all meal prep business owners face. These manual tasks hinder them from growing their business and doing what they enjoy the most cooking. Meallogix addresses that issue by removing operational hurdles and digitizing every step of the supply chain, from order intake to ingredient conversion, nutrition label creation, shopping list creation, recipe costing, and delivery options. Its dashboard enables meal prep owners to gain insight into vital financials, showing them which items drive profits and which do not. Meallogix was developed by leaders in the software and technology industries, successful meal prep business owners, experts from the food and beverage sectors, and respected restaurant owners.