Meal solutions provider FreshRealm has raised $32 million from investors as it readies the launch of fresh meals in the grocery channel.
The Ventura, Calif.-based company aims to provide a complete retail solution, including product design, sourcing, implementation, meal assembly and logistics, as well as marketing and promotional support. Among other initiatives, the new funding will be used to bolster capabilities for producing ready-to-heat, ready-to-cook and meal kit offerings in facilities around the country as the provider seeks to create a regional just-in-time production and delivery system. While it builds its infrastructure, FreshRealm is also broadening its product portfolio and adding to its team of fresh culinary experts.
Part of the company’s growth plan as a turnkey provider of fresh meals includes a horizontal supply chain. The latest influx of capital will be used to add more supply chain partnerships with regional and national experts and to create proprietary ingredients, according to company leaders.
"This funding allows us to accelerate our growth strategy, which is focused on creating fresh meal destinations in partnership with today's most forward-thinking retailers," said Michael Lippold, founder and CEO. "Essential to this growth is the company's hyper-focused operational model custom-built and optimized for fresh meals, which is able to deliver a complete product set across the United States. This round of investment fully resources our team to achieve the long-term goal of bringing fresh meals to grocery retail across the country. It is an exciting moment for us."