RealEats secures over $ 16 million in new funding

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Meal Delivery Service RealEats Raised $ 16.3 Million in Series A Funding to Help Build National Brand Presence and Accelerate Move to 80,000 Square Foot Geneva Facility . The funds are also expected to fuel innovation and support the launch of a new range of meals this year.

The round was led by Hamilton Lane on behalf of the New York State Pooled Retirement Fund, which participated through its company-managed co-investment fund. The cycle also includes global health and wellness brand GNC, Armory Square Ventures and Excell Partners, according to officials.

“We are thrilled to partner with such highly strategic and supportive investors who share our vision for a healthier food future,” said Dan Wise, Founder and CEO of RealEats America. “This capital increase is a testament to the dedication of our incredible team, the delicious real meals they prepare and our incredibly loyal customers across the country. RealEats is poised to grow significantly with this injection of capital and growing consumer demand for real, healthy food. ”

The fundraising round also led to some new board members. Hamilton Lane will represent its investors with a seat on the board, and Yong Kai Wong, GNC’s executive vice president, is already working closely with RealEats to launch several strategic collaborations. In early November, RealEats will become the first brand of fresh meals available for purchase through GNC.

“With its world-class brand and 86 years of scientific expertise in the field of health and wellness, as well as access to an extensive store distribution network nationally and globally, GNC has been a great platform to discover and support emerging and innovative brands. and technologies, ”says Yong Kai. “Our partnership with RealEats, as part of GNC Ventures, the innovation and technology incubation arm of GNC that focuses on disruptive, fast-growing health and wellness businesses, enables GNC to provide fresh, healthy meals and a holistic wellness offering to our customers. . “

RealEats meals are cooked by chefs and packaged using a technique similar to the French sous-vide style. (Photo: RealEats)

Launched in 2017, RealEats brings ready-to-eat farm-to-table foods to subscribers using locally sourced, seasonal ingredients from New York’s farming community. These meals are cooked by chefs and packaged with a technique like the French sous-vide style. (Sous-vide, or sous-vide, uses precise temperatures to provide consistent results for tasty, restaurant-quality cooking.)

The pandemic has increased interest in RealEats – the company raised $ 2.8 million in private capital last year. By the end of 2019, RealEats had won the $ 1 million prize in the first Grow-NY business competition, an innovation and technology startup challenge focused on the development of the food, beverage and agriculture cluster in the central New York, the Finger Lakes and the Southern Tier.

With the progress RealEats has made, Armory Square Ventures has added to its previous investment in the business. Since ASV’s initial investment a few years ago, RealEats has provided culinary offerings to a growing number of passionate customers during a pandemic, said Somak Chattopadhyay, managing partner.

“Now that more and more people are spending time at home and the lines between work and home have blurred, we believe RealEats will continue to evolve,” he said.

For Rochester-based Excell Partners, a venture capital fund that invests in high-tech, high-growth startups in New York City, RealEats is a success. The fund has also increased its investment.

“Finding healthy, high-quality meals for your family is even more important today and RealEats is helping consumers achieve it,” said Rami Katz, COO of Excell. “This is our fourth investment in RealEats and we are delighted to continue to support the tremendous growth of the company.

Smriti jacob is the editor of Rochester Beacon.

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