Michelin star recipe box brand Banquist closes £1.6m raise
Banquist, a brand dedicated to connecting home cooks with the world’s best chefs, has successfully raised £1.6m.
The company’s first raise comes just 12 months after it launched during the UK’s first lockdown, in a bid to shake up how consumers cook at home.
Led by Redrice Ventures, with additional backing from KM Capital and angels including Grace Beverley (Tala Founder), James Davidson (Tails.com Founder) and Adam Brown (Orlebar Brown Founder), the Seed round will support the brand’s mission of upskilling amateurs and budding chefs alike from the comfort of their own kitchens.
Banquist launched in May 2020, at the height of the global pandemic and during the UK’s first lockdown, turning over an impressive £1m in the first six months.
Designed to teach customers how to cook world-class food at home, the service delivers Michelin star recipe boxes direct to your door, complete with a step-by-step guide filmed with one of the world’s best chefs to talk you through the meal from prep to plate.
Now, as hospitality & leisure begins to open back up – but with consumer behaviours undoubtedly changing in favour of entertaining and curated experiences within the home – Banquist is looking ahead, with the £1.6m capital going towards tripling the team, investing in innovative technology and continuing to onboard some of the world’s best chefs.
Banqiust co-founder Seb Evans comments: “We’re thrilled to have closed this raise just 12 months after launching to market. The backing from our investors only further solidifies our predictions that cooking is an area that has historically lacked any innovation and needs to be brought into the digital-age, and we are excited to see where the next 12 months will take us.
“Banquist is dedicated to bringing world-class experiences to customers that are as enjoyable as they are educational, and this funding will allow us to further expand our repertoire of world-class chefs, as well as invest in the technology to digitalise the way customers cook.”
Speaking about the investment, Oksana Stowe of Redrice said: “At Redrice we set out to back innovative and culture-defining consumer brands, and Banquist fits that mission perfectly. It is a brand powered by strong digital content, high-profile chefs and a vision to offer an exceptional learning experience. We look forward to working with Seb and Jonny, and helping them build a high quality business in one of the largest consumer sectors.”