Total amount raised
$70.2 Millions
Latest funding date
06/01/2023
Location
HUNGRY has successfully raised $32.5 million over multiple funding rounds, with the most recent being a $10 million Series C-1 round closed in June 2023. The company has attracted a diverse group of investors, including high-profile names from various industries.
Keep reading to explore the intricacies of HUNGRY's fundraising journey and the investors backing this innovative food-tech platform.
What Is HUNGRY?
HUNGRY, founded in June 2016, is a national food-tech platform headquartered in Arlington, Virginia. The company operates in the food and beverage industry, focusing on food delivery and online marketplaces.
Founded by Eman Pahlavani, Jeff Grass, and Shy Pahlevani, HUNGRY connects top chefs with businesses seeking high-quality catered meals. The company employs between 101 and 250 people and is dedicated to social responsibility through initiatives like 'Fight Against Hunger' and 'WeRecycle.'
How Much Funding Has HUNGRY Raised?
- Seed Round
- Amount Raised: $1.5M
- Date: June 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its food-tech platform.
- Seed Round
- Amount Raised: $3.1M
- Date: April 2018
- Lead Investors: Bob Hisaoka, Timeless Media
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial market reach.
- Series A
- Amount Raised: $8M
- Date: April 2019
- Lead Investors: Motley Fool Ventures, Sands Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the technology platform.
- Series B
- Amount Raised: $20M
- Date: March 2020
- Lead Investors: Evolution VC Partners, Walter Robb
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and support community programs like 'Fight Against Hunger' and 'WeRecycle'.
- Series C
- Amount Raised: $21M
- Date: September 2021
- Lead Investors: Sands Capital Global Venture Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion of the food-tech platform.
- Venture Round
- Amount Raised: $6.6M
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance market reach.
- Series C-1
- Amount Raised: $10M
- Date: June 2023
- Lead Investors: RGH Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance technology and market reach.
Total Amount Raised: $70.2M. Current Valuation: Not publicly disclosed.
Key Investors
- Walter Robb
- Details: Walter Robb is the former co-CEO of Whole Foods, a major player in the organic and natural foods market. He has been a significant figure in the food retail industry for decades.
- Investment Focus Areas: Food, retail.
- Notable Investments: Whole Foods.
- Evolution VC Partners
- Details: Evolution VC Partners is a venture capital firm that invests in early-stage companies. They focus on providing strategic support and capital to help businesses grow.
- Investment Focus Areas: Technology, consumer products.
- Notable Investments: Various startups in tech and consumer products.
- Kevin Hart
- Details: Kevin Hart is a renowned actor and comedian known for his roles in numerous films and stand-up specials. He has also ventured into business and investments.
- Investment Focus Areas: Entertainment, technology.
- Notable Investments: Various tech startups.
- Jay-Z’s Marcy Venture Partners
- Details: Marcy Venture Partners is a venture capital firm co-founded by Jay-Z. The firm focuses on consumer products and technology investments.
- Investment Focus Areas: Consumer products, technology.
- Notable Investments: Various consumer product startups.
- Sands Capital Global Venture Fund
- Details: Sands Capital Global Venture Fund invests in high-growth companies across various sectors. They aim to support businesses that have the potential for significant impact and growth.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Not publicly disclosed.
What's Next for HUNGRY?
HUNGRY stands at the cusp of significant growth opportunities, fueled by its recent $21 million Series C funding round. This influx of capital positions the company to expand its market reach and enhance its technology platform, tapping into the burgeoning food-tech industry.
Future fundraising appears promising as investor confidence remains high, potentially paving the way for additional rounds to support further expansion. However, challenges such as market competition and regulatory hurdles could test HUNGRY's resilience. Navigating these obstacles will be crucial for sustaining its upward trajectory.
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