Christchurch, 30th May 2022 – MenuAid, a cloud-based food
technology platform that is solving the “What’s for
dinner?” dilemma has received a $1M investment from
Sprout, New Zealand’s specialist AgriTech and FoodTech
seed-stage investor. MenuAid provides highly personalised
recipes and smart shopping lists on subscription, tapping
into global consumer preferences for healthy and convenient
home cooked meals, that are affordable and reduce food waste
and packaging.
Privately funded to date, the capital
will be used to introduce personalisation through curated
recipes and an understanding of dietary and brand
preferences through the use of Artificial Intelligence, as
well as expand supermarket partnerships. Full time staff
numbers will double as technical and marketing skills are
hired to further enhance the customer
experience.
Launched in September 2021 as New
Zealand’s first meal planning and food delivery platform,
the start up’s user base has grown to 7000 through word of
mouth, a number it plans to increase to 100,000 within 12
months. Australia is likely to become the company’s first
international market.
The investment follows
MenuAid’s participation in Sprout’s Accelerator in early
2022, a programme supporting early-stage New Zealand
startups whose ideas could disrupt global agtech and
foodtech markets.
Sprout, represents investment
partners who are experts in food tech; Finistere Ventures,
Fonterra, and global venture investment platform
OurCrowd.
Warren Bebb, Investment Manager at Sprout,
says “MenuAid is solving the “What’s for dinner?”
dilemma in a new and highly scalable way that has the
potential to itself become a staple in every kitchen. We
were impressed by the founders’ insights into consumer
food trends and positioning of MenuAid as a strategic
partner to supermarkets and other food suppliers. With the
addition of AI, personalisation will be a key driver of
growth.”
MenuAid customers receive five recipes
weekly. Customised shopping lists reflect individual
preferences for food items and brands and how often they are
bought. Users can remove items they already have and swap
out ingredients they don’t like, before choosing to shop
themselves or have the items delivered to their
door.
Elise Hilliam, co-founder and CEO at MenuAid,
says “Our goal is to make mealtimes simple, more
affordable and enjoyable for consumers who value convenience
but want to reduce packaging waste. The advice and industry
connections received through Sprout’s specialist
Accelerator, combined with the investment, will allow us to
pursue our international growth plans with greater speed and
confidence.”
Co-founded by Elise Hilliam and Toby
Skilton, early shareholders also include Masterchef New
Zealand winner Brett McGregor, and well-known food writer
Helen
Jackson.
