Ruokaboksi secures EUR 3.5 million in growth funding

Ruokaboksi has raised EUR 3.5 million in growth funding. The investors in the round include Tesi (Finnish Industry Investment Ltd), Nordic FoodTech VC, a specialist fund that invests in food tech sector, some private investors, and current owners. Ruokaboksi delivers ingredients and recipes for week’s worth to the customers’ doorsteps, whilst fruit boxes and, for instance, breakfast ingredients can also be ordered for home delivery. The raw ingredients are sourced directly from small producers, seasons taken into account.

“Ruokaboksi supports healthier, more responsible diet for households. Cooking with easy recipes encourages customers to try something new while also making it easier to, for instance, shift for a more vegetable-based eating,” comments Jari Tuovinen, Partner at Nordic FoodTech VC fund.

Ruokaboksi is one of the fastest-growing startups in Finland. Compared to last year, the company’s revenue has grown 80%, to over EUR 20 million. The boxes by Ruokaboksi are already delivered to some 100,000 households, from Helsinki to Rovaniemi.

”With this funding, we can further develop our service for our customers, and continue to grow, also internationally. We are grateful for having now had strong sector expertise and corporate responsibility focus through our new owners,” states Juhana Rintala, CEO of Ruokaboksi.

”The business model of Ruokaboksi enhances the value chain of the Finnish food production and aims at improving farmers’ position in it. Additionally, the company provides consumers more responsible alternatives by decreasing food waste and by promoting healthier diet. At Tesi we strive to develop the sustainable, local food production. Hence, we are happy to be now able to support company’s growth and sustainability strategy, together with the entrepreneurs and other investors,” comments Esa Koponen, Investment Manager at Tesi.

Tesi’s investment was its first in the company.

Additional information:

Esa Koponen, Investment Manager, Growth and Industrial Investments, Tesi
+358 50 577 9166
esa.koponen@tesi.fi

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi | @TesiFII

Nordic Foodtech VC manages a 42 million euro fund and invests explicitly in foodtech across Nordics and Baltics. www.nft.vc / @FoodTechVC