recently, organic food delivery service startups Sun Basket announced a $15 million C round of financing, lead investor is well-known venture capital Sapphire Ventures, the Senate voted party has several angel investors and venture capital institutions, including Baseline Ventures, PivotNorth Capital, Accolade Partners, Founders Circle Capital, Shea Ventures, Relevance Capital, Vulcan Capital and Filter 14.
Sun Basket was founded in 2014, headquartered in San Francisco, they provide organic ingredients according to the delicacy, professional recipes for the user, and delivery of these ingredients, including vegetables, grain protein food etc.. In order to ensure that its services are pollution-free pure organic, Sun Basket and even food packaging boxes are 100 percent recyclable materials, to prevent the generation of additional non environmental waste.
before the latest C round of financing, the company has raised more than $31 million, including the same as the $15 million B round of financing was just eight months ago and last May to raise $11 million 600 thousand A round of financing. With this injection of new investment, Sun Basket plans to open third food distribution center in the Midwest, is expected to cover the service nationwide in 98% areas (the company said that at present the service coverage in the United States accounted for 80%, support 34 states).
on the other hand, the investment has been well-known venture capital Sapphire Ventures’s favor, Sapphire Ventures is known for its unique way of investment in the industry, they have invested in Box, the small and medium-sized enterprise self-service platform Apigee application program interface (acquired by Google), network software startups Aepona (acquired by Intel), can be famous wearable device startups Fitbit, led the British (LinkedIn) and payment of financial technology start-up companies Square. When it comes to this investment, Sun Basket CEO Adam Zbar said:
in 2017, our business will be further expansion, to obtain Sapphire Ventures investment makes us feel very excited, this venture helped many Silicon Valley start-up companies, their business has been growing exponentially.
in fact, the food express service industry is very competitive, Sun Basket company will inevitably encounter many competitors