Cook My Grub launches £1.5m funding round
Following a highly successful initial funding round and outstanding growth in 2021, UK-based food delivery marketplace, Cook My Grub, is embarking on its next funding round. Having exceeded its initial fundraising target by 150% in just four weeks 12 months ago, the business is seeking to raise £1.5m through a combination of VC, high net worth individuals, private and angel investors.
After initial funds were used to invest in technology and build the sales, marketing and operations teams, Cook My Grub saw customer growth of over 250% last year. In 2022, the UK’s leading home-cooked marketplace that offers authentic, healthy cuisines that cannot be found on the high street, is aiming for a 10-fold increase in customers.
Funds from the next raise will be utilised to rapidly build Cook My Grub’s presence across the whole of the UK, through operational upgrades, investment in technology and increased marketing ad-spend. By the end of 2022, the founders aim to be offering their unique food delivery marketplace to thousands more hungry consumers nationwide, offering a fertile investment opportunity.
The platform has provided a new source of income for chefs who have been hit hard over the last two years. With the aim of reaching a £3m gross merchandise value before the end of 2022, the next phase of growth will also see some of the best home chefs from across the country aggregated onto the platform, providing them with expert training, more opportunities to earn, and new career prospects.
The founders Dinesh Patil and Shabbir Mookhtiar, said: “Cook My Grub has seen incredible growth since its launch during the pandemic. It’s our mission to expand the platform to a nationwide operation, helping to build healthier, happier and wealthier communities across the UK. We expect to welcome an extra 200 chefs onto our platform next year – we are putting our efforts into helping up-and-coming, as well as established chefs, get back into the world of work, building their reputations and helping them make a living out of their passion for cooking.
“Investors have already shown huge confidence in our model as we seek to revolutionise the sector. We’re really looking forward to seeing how quickly we reach our target for this funding round.”