Category: Food

June 10, 2019 Off

Get your tickets to the TechCrunch 14th Annual Summer Party

By Jill T Frey

Hey startuppers, it’s time to save the date and get your ticket to the best Silicon Valley soiree of the season. This year marks the 14th return of the TechCrunch Summer Party — a time to relax, connect and imbibe with your startup siblings.

We’re excited to announce that we’re hosting more than 1,000 guests at the beautiful Park Chalet, San Francisco’s coastal beer garden. Come out, kick back, grab a drink and enjoy a variety of tasty bites, while enjoying the park views. We’re also excited to announce our VC firm partners for the event: August Capital, Battery Ventures, Data Collective, and Uncork Capital.

Tickets to this popular event will go fast, which means get them while you can! Tickets are available on a rolling basis, so if you miss out on this batch, don’t despair. Simply sign up here and we’ll let … Read the rest

June 8, 2019 Off

Everyone loves pizza, including VCs

By Jill T Frey

Sometimes a person (I’m not naming names here) tires of staring at startup funding data, and her hungry mind wanders to pizza.

But ordering a pizza in real life isn’t always the best choice for such people/reporters. So instead, we’ll pivot to the next best (not really) thing: Looking at what startup investors are doing vis-à-vis the pizza industry.

Turns out, VCs and growth investors are finding lots of ways to toss money at the space. A query of Crunchbase data rolled out more than 50 companies funded in the past couple of years that mention pizza in their business descriptions. In the chart below, we slice into 10 of the most heavily funded and intriguing pizza-preneurs.

Taken together, … Read the rest

June 6, 2019 Off

Postmates taps longtime Apple engineer to boost autonomous delivery efforts

By Jill T Frey

Postmates has hired Apple veteran and author Ken Kocienda as a principal software engineer at Postmates X, the team building the food delivery company’s semi-autonomous sidewalk rover, Serve.

Kocienda, author of “Creative Selection: Inside Apple’s Design Process During the Golden Age of Steve Jobs,” spent 15 years at Apple focused on human interface design, collaborating with engineers to develop the first iPhone, iPad and Apple Watch. Kocienda left Apple in 2017 to focus on his book.

Now, he’s picked Postmates as his next project, citing the team’s spirit and energy as motivation for joining.

“My goal throughout my career has not been technology for the sake of opportunity, I am interested in making product experiences that people out in the world will find useful and meaningful,” Kocienda tells TechCrunch. “It’s not about the technology or just the design, it’s about the technology and design coming together.”


Postmates unveiled ServeRead the rest

May 27, 2019 Off

India’s FreshToHome raises $11 million to expand its fish, meat, and vegetable e-commerce platform

By Jill T Frey

Shan Kadavil, who spent early days of his career managing tech support firm Support and then heading India operations of gaming firm Zynga, says he had a calling of sorts when his son was born. Kadavil realized that much of the meat that sells in India is not exactly healthy. The perishables are loaded with chemicals to superficially extend their life by six months, if not more. He wanted to do something better.

Fast forward four years, Kadavil said today that FreshToHome, his new e-commerce startup that delivers “100 percent” pure and fresh fish, chicken, and other kinds of meat, has raised $11 million in Series A funding. The startup has raised $13 million to date.

The round was led by CE Ventures, with participation from Das Capital, Kortschak Investments, TTCER Partners, Al-Nasser Holdings, M&S Partners and other Asia and Valley based Investors. Some of the backers of FreshToHome … Read the rest

May 26, 2019 Off

The savage genius of SoftBank funding competitors

By Jill T Frey

Venture capitalists aren’t supposed to make their portfolio companies battle to the death. There’s a long-standing but unofficial rule that investors shouldn’t fund multiple competitors in the same space. Conflicts of interest could arise, information about one startup’s strategy could be improperly shared with the other, and the companies could become suspicious of advice provided by their investors. That leads to problems down the line for VCs, as founders may avoid them if they fear the firm might fund their rival down the line.

SoftBank shatters that norm with its juggernaut $100 billion Vision Fund plus its Innovation Fund. The investor hasn’t been shy about funding multiple sides of the same fight.

The problem is that SoftBank’s power distorts the market dynamics. Startups might take exploitative deals from the firm under the threat that they’ll be outspent whoever is willing to take the term sheet. That can hurt employees, especially … Read the rest

May 24, 2019 Off

Luckin leaves bitter aftertaste, now trading below IPO price

By Jill T Frey

In the first few days following Luckin Coffee’s initial public offering, the stock chart for LK looked like a roller coaster. Now it’s looking more like a free fall.

The Chinese Coffee chain successfully completed its highly anticipated offering roughly a week ago, raising more than $550 million after pricing at $17 per share, the high end of its $15-$17 per share range.

Luckin was met with a warm reception from the markets, with the stock skyrocketing roughly 20% to a greater than $5 billion market cap in its first day of trading. However, concerns over the company’s lofty valuation, major cash burn and uncertain path to profitability have caused the stock to nosedive since.

Luckin has dropped around 25% since closing its debut trading day at $20.38 per share, and 40% from its intraday peak of $25.96. As of Friday’s open, Luckin stock sat at $15.44, … Read the rest

May 24, 2019 Off

Why Luckin’s ultimate target may not be Starbucks

By Jill T Frey

Starbucks plans to double its store count in China to 5,000 in 2021 and Luckin, a one-year-old coffee startup, is matching up by aiming to reach 4,500 by the end of this year. Luckin’s upsized $651 million flotation has brought American investors’ attention to this potential Starbucks rival in China, where the Seattle giant controlled over half of the coffee market as late as 2017. But as soon as you make your first purchase with Luckin, you realize its ultimate goal may not be to topple Starbucks.

To get your caffeine intake from Luckin, the ordering process happens entirely on its app. First, you will decide how you want to fetch the drink: have it delivered within 30 minutes, pick it up at a nearby Luckin kiosk, or sit back and sip at one of its full-on cafes, or what it calls ‘relax stores.’

Say you’re tied up at … Read the rest

May 22, 2019 Off

Nectar’s sonar bottle caps could save $50B in stolen booze

By Jill T Frey

Bars lose 20% of their alcohol to overpours and “free” drinks for friends. That amounts to $50 billion per year in booze that mysteriously disappears, making life tough for every pub and restaurant. Nectar wants to solve that mystery with its ultrasound depth-sensing bottle caps that measure how much liquid is left in a bottle by measuring how long it takes a sonar pulse to bounce back. And now it’s bringing real-time pour tracking to beer with its gyroscopic taps. The result is that bar managers can determine who’s pouring too much or giving away drink, which promotions are working and when to reorder bottles without keeping too much stock on hand — and avoid wasting hours weighing or eyeballing the liquor level of their inventory.

Nectar’s solution to alcohol shrinkage has now attracted a $10 million Series A led by DragonCapital.vc and joined by former Campari chairman Gerry Ruvo, … Read the rest

May 21, 2019 Off

As meal-kit melee stretches on, Sun Basket whips up $30M Series E

By Jill T Frey

Sun Basket, a provider of a healthy meal kit delivery service, has raised another $30 million in venture capital funding. The round, led by PivotNorth Capital, brings the company’s total raised to $125 million.

The Series E funding delays Sun Basket’s expected initial public offering once again. There’s been unsubstantiated talk of a Sun Basket float for quite some time; in fact, before Blue Apron and Hello Fresh, a pair of fellow meal-kit delivery businesses, completed IPOs, Sun Basket was the subject of exit rumors. Alas, we will have to wait a while longer before the company makes the big leap.

After all, Blue Apron has performed very poorly since going public on the New York Stock Exchange two years ago. Sun Basket chief executive Adam Zbar has been honest about the difficulties of running a meal-kit startup in a post-Blue Apron IPO universe, telling PitchBook his company’s Series … Read the rest

May 19, 2019 Off

Is a $600 smart oven ever worth it?

By Jill T Frey

Part of closely following tech is the often mistaken belief that newer, better technologies can help right some of the wrongs older ones caused in the first place. Behold the Wii and the Fitbit — two perfect examples of technologies designed to right some of technologies’ previous wrongs.

It’s tricky because, in some cases, these things do work. We’ve all read the success stories, and for many of us, that’s enough to keep us trying out new things. Some much ultimately relies on our own individual hang ups. If we’re lucky, the right piece of technology at the right time can be legitimately transformative of those things we’d like to change about ourselves.

With something like the June, the hope is two-fold. There’s all of the built-in features and the promise of better baking, coupled with the simple motivating factor of spending $599 on a glorified toaster oven. I’ll … Read the rest