UK recipe kit start-up SimplyCook fed £2m from investors
Subscription-based "food discovery service" is looking to up its marketing spend to compete with HelloFresh, Gousto, MindfulChef and more
SimplyCook, a start-up delivering recipe meal-kits in a box, has lapped up a new round of funding from investors to the tune of £2m to help cement its position in the market.
The investment, which follows an earlier $1.1.m round in 2015, attracted backing from existing investor Episode 1, alongside Maxfield Capital, 500 Startups, and a group of angel investors.
Founded by former venture capital investor Oliver Ashness, London-based SimplyCook is pitched as a ‘food discovery service' which provides customers with a recipe box each month containing four easy to follow recipes, and four ingredient kits devised by professional chefs.
These four ingredient kits – featuring sauces, spices, pastes and rubs – retail at £8.99, with each meal said to take around 20 minutes to make, feeding two to four people.
With a 8.9 customer rating on TrustPilot and customer reviews of it being the “recipe version of Graze”, SimplyCook intends to use the funding to increase its marketing and further develop its technology – including its mobile app.
Marketing is a must as the start-up is operating in a highly competitive market alongside the likes of HelloFresh, Gousto, and MindfulChef. It's worth noting that food delivery start-ups in the industry have “failed to make it work” such as Pronto, which recently announced its closure after failing to raise additional investment.
SimplyCook's ultimate aim? To make cooking more accessible:
“Despite our nation’s love of food, recipe programmes and celebrity chefs most of us only have six meals or less in our repertoire. We aim to change that by making cooking a simple and hassle free process so you can expand your repertoire with ease!”