Canadian meal kit company Oatbox said today (14 June) it has raised CAD1.55m (US$1.17m) in seed funding to expand production and strengthen its position as a “disruptor in the breakfast market”.
Montreal-based Oatbox said the funding from investors with “strategic expertise in marketing, public relations and food distribution”, will be used to “reinforce marketing and accelerate growth” – in addition “to pursuing new product research and development” and financing the purchase of equipment to increase production capacity.
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Oatbox CEO Marc-Antoine Bovet, who co-founded the company in 2014, said “everything is now in place” for plans to “significantly increase” the company’s active subscriber base in north America by the end of this year.
“This major investment will allow Oatbox to remain at the forefront of breakfast trends and to offer its customers more products adapted to the their lifestyle,” Bovet said.
Oatbox said it delivers “hundreds of thousands of boxes of healthy and delicious breakfast” to its subscribers each month. Each month, the company said it also “develops and delivers two new granola mixes, made of seasonal ingredients, most of which are also organic, as well as certified gluten-free, lactose-free and nut-free protein breakfast bars”.
Last April, Oatbox launched a Oatbox for Business – which it described as “a turnkey breakfast solution to help companies be leading forces of workplace culture”.
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