Tovala Raises $30M in Series C Funding

Tovala, a Chicago, IL-based meal service paired with an oven that scans, steams, bakes, and broils its meals, closed a $30M Series C funding.

The round was led by Left Lane Capital, with participation from previous investors Finistere Ventures, Comcast Ventures, OurCrowd, Origin Ventures, Pritzker Group Venture Capital, and Joe Mansueto. Left Lane Capital’s Co-Founder and Managing Partner Jason Fiedler will join Tovala’s Board of Directors.

The company intends to use the funds to open a new production facility, expand the team, improve the customer experience, and continue building its food and consumer technology brand.

Launched in 2017 by culinary-tech duo David Rabie and Bryan Wilcox, Tovala provides fresh, chef-crafted meals and a smart oven to let customers enjoy a home-cooked meal without the work. Each meal requires quick prep time before the Tovala Smart Oven scans and cooks it perfectly in 20 minutes or less.

The oven has 5 different cooking functions (steam, bake, broil, toast, reheat) and the ability to scan-to-cook nearly 1,000 brand-name grocery items from brands like Kashi and Amy’s. Tovala is available for purchase at Tovala.com, Amazon, and QVC.

FinSMEs

05/02/2021