Appetise secures $7m raise to boost meal planning market
Make us a preferred source
Make us a preferred source on Google
The news: New Zealand-based meal planning app Appetise has secured $7 million in Series A funding, less than a year after its first entrance into the Australian market
The context: The capital funding comes 11 months after company’s launch into Australia and was led by New Zealand based venture capital firm Icehouse Ventures.
Appetise offers free meal planning, recipes and smart shopping tools to users across Australia and New Zealand. Its B2B business, Appetise Insights, provides shopper behaviour data and insights to Australian food and beverage brands.
Following its expansion into Australia in February, the local market now accounts for about 70% of the company’s overall growth. Revenue has tripled over the past six months, with 70 Australian brands signing up to its new products, including Kraft Heinz & Lee Kum Kee.
What they said: “We aren’t just helping 100,000 households answer the essential ‘what’s for dinner?’ question, we are providing FMCG [Fast-Moving Consumer Goods] brands with live, behavioural data that simply doesn’t exist elsewhere. To see revenue triple in six months proves that the industry was starving for these insights,” Appetise co-founder and CEO Toby William said.
“However, there is often a disconnect between a consumer’s reported behaviour and their actual behaviour at the supermarket shelf. Appetise bridges this by capturing revealed preferences, tracking the full journey from meal selection, shopping list creation, product choice to putting food on the table,” he added.
The source: Appetise media release
