Unilever Invests In Meal Kit Company Sun Basket

11-May-2017 - United Kingdom

U.S.-based organic meal-kit startup Sun Basket has raised about $9.2 million in an another fundraising round led by the Unilever Ventures, the venture capital and private equity arm of Unilever Plc.

The San Francisco, California-based company plans to use the funds to expand its distribution, marketing efforts and speed up the development of three facilities it operates.

Venture capital firms Baseline Ventures and Founders Circle Capital, both prior investors, also participated in the funding. The money raised increases Sun Basket's Series C to $24.2 million. The company had raised $15 million in the first quarter.

"Unilever thought we had the fastest growth rate of anyone within our space," Sun Basket CEO co-founder Adam Zbar told Fortune in an interview. (dpa)

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Topic world AI for food and beverages