The cash injection makes Campbell Chef’d’s largest strategic investor and gives it a seat on the company’s board of directors.
Under the terms of their new partnership, Chef’d will help with infrastructure and distribution of meal solutions through the Campbell’s Kitchen site, while Campbell will benefit from Chef’d’s insights on e-commerce business models, access to data analytics and insights on shopper behaviors.
The two companies will also test various capabilities over the three-year agreement around product innovation and fulfilment, said Campbell Soup CEO Denise Morrison.
“E-commerce will transform the food industry in similar ways to how it transformed entertainment and apparel. It is a game changer for consumers, food makers and retailers alike. The movement is irrevocable and irreversible. In the future, shopping for and preparing meals will be flexible, fully automated and even anticipatory. Chef’d will help Campbell connect with our consumers where they are today and, more importantly, where they’re headed.”
Chef’d enables users to choose from hundreds of meals at any given time, without committing to subscriptions or membership fees. It also partners with high-profile chefs, culinary personalities and over 125 brands in food, fitness, and health and wellness to offer 1,000+ meal solutions spanning breakfast, lunch, dinner and dessert.
“We are actively looking to add strategic partners and Campbell’s outlook on the future of food and e-commerce aligns perfectly with the Chef’d vision of the future of online grocery,” said Chef’d CEO Kyle Ransford,
Other investors in Chef’d’s Series B round include Fresh Direct.
Read more about the meal kit delivery market HERE.