CPE News (7.04.2023) – PORTA has raised $10.5 million in Series A funding led by Gruppo Terroni, Brand Project and the Toskan Family Trust Inc. (TTFT Inc.).
PORTA offers authentic, ready-to-cook frozen Italian meals that are ready in 15 minutes or less. Its restaurant-quality dishes use only the finest Italian and locally-sourced ingredients, traditional recipes and a very simple cooking process that requires no prep and minimal clean-up.
The funding will be used to continue its rapid retail expansion and support its growing direct-to-customer business.
photo credit: PORTA
News Release
PORTA™ secures $10.5M Series A Funding Round
Investment will enable PORTA to increase production capacity and grow retail distribution.
TORONTO, July 4, 2023 /CNW/ – The Traditional Italian Food company has raised a $10.5M Series A funding round. The round is led by Gruppo Terroni, Brand Project and the Toskan Family Trust Inc. (TTFT Inc.). The funding comes on the heels of PORTA’s expansion into nearly 100 specialty and premium grocery stores. It will be used to continue its rapid retail expansion and support its growing direct-to-customer business.
PORTA offers authentic, ready-to-cook frozen Italian meals that are ready in 15 minutes or less. Their restaurant-quality dishes use only the finest Italian and locally-sourced ingredients, traditional recipes and a very simple cooking process that requires no prep and minimal clean-up.
“Our mission is to make every cook feel like a chef and we do that by making it easier to access, order and cook the best that Italy has to offer right in your home,” says Cosimo Mammoliti, CEO of Gruppo Terroni.
“PORTA offers something unique to Canadians, which has allowed it to quickly differentiate itself from other home meal solutions,” says Brett Toskan, President of TTFT. “As an investor, we’ve been impressed by the rich history and passion for product quality that the Terroni team has, and by the strong team they have brought together. We look forward to supporting PORTA in its continued growth.”
What started as a menu of just eight pizzas, eight pastas and four desserts has expanded to over 30 menu items, including rotating seasonal dishes, a line-up of premium risottos, and four hand-rolled breakfast pastries with more product innovation on the way.
“Our business continues to evolve into an omni-channel consumer packaged goods company,” says Jason Cassidy, Founding General Manager at PORTA. “This funding will allow us to continue to innovate on new product categories, expand into new markets and invest in strategic shopper and trade marketing initiatives.”
To date, PORTA has delivered more than 700,000 meals to Ontario homes and secured shelf space in almost 100 retailers, including more than 30 Longo’s locations across the province.
Visit www.eatporta.com to explore PORTA’s full menu and find out how to try it yourself.
About PORTA™:
PORTA is an authentic Italian manufacturer of artisanal, ready-to-cook frozen meals. We produce restaurant-quality dishes using only the finest Italian and locally-sourced ingredients, traditional recipes and a very simple cooking process that takes less than 15 minutes.
PORTA currently offers a range of frozen pizzas, pasta kits, raviolis, desserts, pastries and risotto. We distribute Direct-to-Consumer through a meal subscription at www.eatporta.com and are also available in almost 100 specialty and grocery stores in Ontario, Canada. Be the chef in your home kitchen, and try PORTA today.
About BrandProject
BrandProject invests in visionary founders who understand the needs of today to build the brands of tomorrow. With its team of seasoned entrepreneurs and operators based in Toronto and New York City, we partner with founders to accelerate, incubate and scale early-stage consumer companies. We take a strategic approach to building solid foundations, focusing on key business building pillars, and provide the financial and operational resources to help founders succeed. We have invested in and helped build innovative new brands including Daily Harvest, Our Place, Wonderbelly, Gainful, Felix, PORTA, Peachy, Juno Vet and more. Find out more at www.brandproject.com
About Terroni
Terroni is rooted from traditional Italian cuisine, wine, and culture. We work tirelessly to give our customers a distinctly southern Italian experience. Our first location was opened in 1992, and is located in the heart of Queen Street West. After 30 years of history, the family expanded to six locations in Toronto and two in Los Angeles.
Terroni is as much an ideology as a restaurant. It’s not just food for us, it’s also the experience of eating food in the same way that it has been enjoyed for generations. We go to great lengths to source the best olive oil, the best tomatoes, and the freshest ingredients because we want to share our traditional recipes and offer our guests an authentic experience.
SOURCE PORTA
For further information: For more information, please contact: Jamie-lee Common, Citizen Relations, jamie-lee.common@citizenrelations.com