Tovala Explained

Tovala
Area Served:United States
Industry:Meal kit
Location:Chicago, Illinois, U.S.
Num Employees:375 (2024)

Tovala is a meal-kit and oven company based in Chicago, Illinois. It sells a series of smart ovens that combine baking, broiling, air frying, and steam cooking and which can be controlled by an app.

History

Tovala was co-founded in 2015 by CEO David Rabie and CTO Bryan Wilcox. It won a venture challenge at the University of Chicago.[1] Initially named Maestro and nicknamed the "Keurig for food," it launched with a Kickstarter in January 2016 that raised $256,000.[2] That year, it was also accepted into the Y Combinator accelerator program.[3] [4] [5]

Tovala launched to the general public in 2017. It also raised a $9.2 million Series A round that year, led by Origin Ventures, and acquired the Chicago-based food-delivery service Radish.[6] [7] [8] [9] In 2020, the company raised a $20 million Series B round of capital, led by Finistere Ventures and including Comcast Ventures, OurCrowd, Rich Products Ventures, Pritzker Group Venture Capital, and the University of Chicago.[10] [11] It added a $30 million Series C round in 2021, led by Left Lane Capital.[12] [13] As of 2024, it has raised a total of $68.6 million and employs about 375 people.

The company has released several generations of its countertop smart ovens, most recently the Tovala Smart Oven and the Tovala Smart Oven Pro, which includes steam cooking.[14] [15] They have ranged in price from $300 to $400, which substantial discounts for customers who also sign up for the company's meal-kit service.[16]

External links

Notes and References

  1. News: McLean . Tessa . Maestro, the Keurig for food, wins top prize at New Venture Challenge Built In Chicago . 16 March 2024 . Built In Chicago . 29 May 2015 . en.
  2. News: Rekdal . Andreas . Dishing up dinner and fixing democracy: These were our favorite launches in 2016 Built In Chicago . 16 March 2024 . Built In Chicago . 23 December 2016 . en.
  3. News: Rekdal . Andreas . Maestro, ‘the Keurig for food,’ rebrands as Tovala Built In Chicago . 16 March 2024 . Built in Chicago . 18 January 2016 . en.
  4. Web site: Tovala: A smart-oven-paired subscription meal service. . Y Combinator . 16 March 2024 . en.
  5. News: Rekdal . Andreas . The "Keurig for food" joins YC class of 2016 Built In Chicago . 16 March 2024 . Built in Chicago . 7 March 2017 . en.
  6. News: Mohan . Pavithra . Smart oven startup Tovala just got a cash infusion of $9.2 million . 16 March 2024 . Fast Company . 18 December 2018.
  7. News: Rekdal . Andreas . Tovala just served up a $9.2M Series A Built In Chicago . 16 March 2024 . Built In Chicago . 18 December 2017 . en.
  8. News: Tovala Raises $9.2M Series A Round to Fund Expansion . 16 March 2024 . The Spoon . 18 December 2017.
  9. News: Rekdal . Andreas . Tovala acquires Radish, bolstering food delivery credentials . 16 March 2024 . Built In Chicago . 14 November 2017 . en.
  10. News: This ‘smart oven’ company raised $20 million to help people cook at home . 16 March 2024 . Fast Company . 2 June 2020.
  11. News: Tepper . Nona . Tovala Raises $20M to Install Its Smart Oven in More Home Kitchens Built In Chicago . 16 March 2024 . Built In Chicago . 2 June 2020 . en.
  12. News: Glover . Ellen . Tovala Raises Another $30M to Grow Its Meal Delivery, Food Tech Business Built In Chicago . 16 March 2024 . Built In Chicago . 5 February 2021 . en.
  13. News: Rabie . David . Even with Y Combinator pedigree we initially struggled with fundraising. That was a blessing in disguise . 16 March 2024 . Fast Company . 13 July 2021.
  14. Web site: Tovala - Smart Oven. Fresh Meal Delivery Service. 1 Minute of Prep. . tovala.com . 16 March 2024 . en . 5 September 2022.
  15. News: Hines . Michael . Tovala just launched a redesigned version of its smart oven Built In Chicago . 16 March 2024 . Built In Chicago . 13 November 2018 . en.
  16. Web site: Tovala - Smart Oven. Fresh Meal Delivery Service. 1 Minute of Prep. . tovala.com . 16 March 2024 . en . 5 September 2022.

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