Tovala, a meal service and countertop smart oven that scans, steams, broils and bakes chef-crafted meals, has closed on a $20 million Series B funding round led by Finistere Ventures, with participation from new investors Comcast Ventures, OurCrowd and Rich Products Ventures.
Previous Tovala investors Origin Ventures, Pritzker Group Venture Capital, Crate & Barrel founder Gordon Segal, New Stack Ventures and the University of Chicago also participated in the round.
Tovala said it will leverage the funding to fuel rapid growth, expand production capabilities and grow its team, enabling the brand to scale its fresh meal service and countertop oven to reach new customers nationwide.
Launched in 2017, Tovala said it provides fresh, scan-to-cook meals without the time commitment or prep typically involved. The WiFi-connected countertop oven steams, bakes and broils based on a custom QR code, expertly cooking each individual meal.
“Tovala delivers on the promise of a home-cooked meal without any of the work involved in getting a delicious, hot meal on the table. We fill a void for customers who crave convenience without sacrificing quality,” said Tovala CEO David Rabie. “We’re excited to partner with Finistere Ventures to propel our business forward and bring Tovala to more people.”
“Tovala uniquely sits at the intersection of trends in the smart home and meal kit spaces: Meals enabled by an automated device, delivering convenience without compromise. We recognize Tovala’s potential to own the kitchen countertop and look forward to being part of their expansion journey as we increase our investment in the food space,” said Arama Kukutai, co-founder and partner at Finistere Ventures.