Oatbox, a leader in the subscription-based delivery of healthful and nutritious breakfast products, has raised $1.55 million in seed funding from a group of private investors. The financing closed in April 2017.
Founded in 2014, Oatbox offers home delivery of healthful and tasty products to its subscribers across North America. The company develops and delivers two new granola mixes every month, made of seasonal ingredients, most of which are also organic, as well as certified gluten-free, lactose-free and nut-free protein breakfast bars.
Oatbox will use new funds to support the company’s accelerated growth and to strengthen its position as a disruptor in the breakfast market, pursuing new product research and development to increase its product offering, as well as financing the purchase of new equipment in order to increase production capacity.
“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. By the end of 2017, we plan to significantly increase our active subscriber base in North America, and everything is now in place to achieve this objective,” said Marc-Antoine Bovet, CEO and co-founder of Oatbox.
“Our investors bring us much more than monetary support – we now benefit from the expertise of a group of mentors with complementary skills who guide us to ensure Oatbox’s success. This is a significant agreement that aims to improve the competitiveness of our company in the breakfast market,” added Pierre-Luc Laparé, CFO and co-founder of Oatbox.
photo credit: Oatbox