Finistere Invests in Farmers Fridge
Finistere’s recent investment in Farmers Fridge was covered in a recent article in Global Ag Investing:
Farmer’s Fridge, a company responsible for a rapidly growing network of maintenance-free, low-energy “smart” healthy vending machines designed to transform the fresh food supply chain, announced it has raised $30 million in a Series C round of funding.
Leading the round is Innovation Endeavors, the venture firm launched by former Google CEO Eric Schmidt, and participants include Finistere Ventures, Cleveland Avenue, Danone Manifesto Ventures, GreatPoint Ventures, DNS Capital, DOM Capital, and Hyde Park Angels.
Founded in 2013, Farmer’s Fridge now controls 186 smart touchscreen vending machines that let customers choose from a menu of meals and snacks including quinoa bowls, peach caprese salad, smoked cheddar Cobb salad, or an almond butter oats bowl – each of which includes hand-cut vegetables and dressings, as well as local seasonal ingredients when possible. Salads are produced and packaged in recyclable mason jars and are sold for approximately $8 – a very competitive price to comparable quick service restaurants.
“Farmers need to capitalize on new revenue streams by finding creative ways to showcase their best produce as the industry rethinks the food supply chain. Farmer’s Fridge fills a gap and gives farmers a way to offer fresh, nutritious meals to on-the-go consumers in a convenient and accessible form,” noted Arama Kukutai, co-founder and partner at Finistere Ventures.