CPE News (3.28.2022) – SPATULA Foods has raise of US $1.5 million in a pre-seed funding led by Global Founders Capital with participation from Panache Ventures, Loyal VC, and private investors including the former co-CEO of HelloFresh US and Senior Executives at Goodfood.
Founded by Wallace Wong and Ian Weng, SPATULA Foods is a Toronto-based gourmet food subscription service.
SPATULA launched today with 15 recipes to choose from. Meals are available to order weekly via SPATULA’s customizable subscription platform. Each SPATULA recipe option arrives in a flash frozen, vacuum sealed pouch with each dish containing two generous helpings, starting at $11.49 a plate.
SPATULA currently services the GTA, with plans to roll out its service and model of working with local chefs, and creating locally produced recipes, across the country.
photo credit: Spatula, founders, Wallace Wong (l) and Ian Weng (r)
News Release
Toronto Startup, SPATULA Foods, Raises $1.5M USD to Launch First-of-Its-Kind Subscription Service that Delivers Michelin Chef Meals that are Ready in 10-Minutes to Consumer Doorsteps Starting at Under $12 a Plate
TORONTO, March 28, 2022 /CNW/ – Innovative gourmet meal subscription startup, SPATULA Foods, officially launches in Toronto today to deliver meals developed by local chefs that are flash frozen – and ready in 10 minutes – to consumer’s doorsteps starting at under $12 a plate.
“There’s nothing like SPATULA on the market in Canada. We deliver a delicious, restaurant-worthy dinner solution with a 10-minute promise that’s ready at least three times faster than a meal kit and about four times quicker than delivery apps,” said Ian Weng, CEO & co-founder, of Toronto-based SPATULA and former Head of Strategy at Uber Eats Canada.
The launch follows SPATULA’s raise of $1.5M USD in a pre-seed round, led by Global Founders Capital, with participation from Panache Ventures, Loyal VC, and angel investors including the former Co-CEO of HelloFresh US and Senior Executives at Goodfood.
“SPATULA is setting a new benchmark for at-home meal solutions by offering an unparalleled combination of quality, taste and convenience. Ian and the team are carving out a new category in the foodservice sector with tremendous runway for growth,” said Alex McIssac, Partner, Global Founders Capital.
Michelin trained chef, Top Chef Canada Finalist, and TikTok sensation Wallace Wong, is a co-founder of SPATULA, and heads up culinary operations to oversee recipe development and ensure all dishes are uniquely engineered to match the quality a chef would demand if serving the dishes at a restaurant.
“Our meals are specially engineered so you can’t detect they were previously frozen,” said Wong. “If you’re serving up SPATULA to friends or family at home, they would never suspect they were previously frozen because the integrity of the dish is as it was intended by the chef that developed it. Nothing is compromised through the flash freezing process.”
SPATULA meals are made with high quality ingredients, and with many developed by local chefs who receive a portion of sales from their SPATULA creations. Meals are flash frozen at the height of freshness so customers can enjoy a foolproof, mouthwatering dish at their convenience at a fraction of the cost of eating out or ordering food delivery. Dishes are internationally inspired to celebrate the diverse cultures and flavours that influence how Canadians eat, and are created in each chef’s own, unique signature style.
Top Toronto Chefs
SPATULA meals include: Braised Beef Bourguignon with Pearl Onions and Pomme Purée, created by Parisian born Chef Romain Avril, who is a Chopped Canada finalist, and former guest judge on Canada’s Top Chef; Singapore Black Pepper Udon with Shrimp and Gai Lan, created by Masterchef Canada winner Chef Eric Chong; Wild Mushroom Truffled Risotto with Parmigiano Reggiano, created by Chef Wallace Wong; Butternut Squash Fusilli with Pancetta, Sage, and Pumpkin Seeds, created by Chef Eugene Wong; and Chef Ryan Hinkson gives southern comfort a makeover with his Honey Bourbon Chicken with Cajun Dirty Rice and Escovitch Pickle. For a complete list of SPATULA’s amazing recipes visit www.spatulafoods.com.
Billion Dollar Business Model
Weng was inspired to start SPATULA while studying his MBA in France where flash frozen gourmet meals are enjoyed by even the most discerning food lovers. In fact, France’s leading frozen gourmet meal brand boasts annual revenues of $2B.
Weng saw an untapped market in Canada, along with a robust runway for growth. In Canada, the meal kit sector is estimated to be valued at $700M while the food delivery market is anticipated to reach $98B by 2027. Globally, the meal kit market is $13B, while the worldwide food delivery app industry is valued at $154B.
While today marks SPATULA’s official launch with a new website, expanded product line up, and subscription service, company metrics from its soft launch earlier this year, reveal an impressive trajectory for growth with an anticipated average basket size around $100.
SPATULA Delivers on a 10-Minute Promise
SPATULA launches today with 15 recipes to choose from. Meals are available to order weekly via SPATULA’s customizable subscription platform. Each SPATULA recipe option arrives in a flash frozen, vacuum sealed pouch with each dish containing two generous helpings, starting at $11.49 a plate.
SPATULA currently services the GTA, with plans to roll out its service and model of working with local chefs, and creating locally produced recipes, across the country.
About SPATULA Foods
SPATULA Foods is a Toronto-based gourmet food subscription service founded by former Uber Eats Canada Head of Strategy, Ian Weng, and Michelin trained chef, Top Chef Canada finalist and Tik Tok sensation, Wallace Wong – also known as The Six Pack Chef. Weng, who is CEO & co-founder of SPATULA, was inspired to start the company while studying for his MBA in France where flash frozen gourmet meals are widely enjoyed by even the most discerning food lovers. Upon returning to Toronto, he partnered with Wong to further develop a restaurant-worthy dinner solution for today’s busy consumers hungry for convenient, and affordable restaurant-worthy options, at home. SPATULA exclusively offers gourmet meals developed by Toronto chefs that are flash frozen at the height of freshness, and ready in just 10 minutes. SPATULA recently secured $1.5M USD in a pre-seed round raise, led by Global Founders Capital, with participation from Panache Ventures, Loyal VC, and angel investors including the former Co-CEO of HelloFresh US and Senior Executives at Goodfood.
About Global Founders Capital
Global Founders Capital (GFC) is a globally oriented, stage agnostic venture capital firm that empowers gifted entrepreneurs worldwide. GFC has over $3B under management and is one of the top 10 most active investors globally, having backed many great companies including HelloFresh, Delivery Hero, Away Travel, Canva, Culture Amp, Deel, Brex and Ledn. The firm has offices around the world including their Canadian office in Toronto.
SOURCE Spatula Foods
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