Just one year after market launch, founders Philipp Kraiss (co-founder of mymuesli) and Christian Mahler (formerly of mymuesli) have secured a seven-figure seed investment for Freda, a food-tech startup specializing in high-quality frozen convenience food. The round was led by Graphit NeoTaste, an Austrian family office. In addition, existing investor FoodLabs expanded its stake, while Combination Ventures and other business angels also joined the round.
Since its launch, Passau-based Freda has gained over 20,000 customers, reporting consistent double-digit monthly growth. Freda’s strategy combines in-house production with collaborations with small artisanal producers, offering exceptional quality and variety. Currently sold exclusively through its webshop, Freda’s products resonate with the growing consumer demand for convenient yet high-quality meals.
“We see tremendous potential in Freda, given the rising demand for innovative, high-quality frozen products. We are excited to support the company as it continues to grow, particularly as it expands into the Austrian market,” said Stefan Rathgeber, Co-Managing Director of Graphit NeoTaste GmbH.
With fresh capital, Freda plans to expand its product portfolio further. The company, which originally launched with a wide selection of premium hand-made frozen pizzas, has steadily broadened its range to include innovative new offerings. These include high-protein pizzas with over 80g of protein per pizza, as well as artisanal products such as lasagna, gelato, and sorbet. Freda aims to transform frozen meals from a last-minute option into a favorite dining choice.
In addition to expanding its product line, the founders are also focused on entering new markets, including Austria, and securing retail listings. Freda’s diverse product line is produced in its own facility in Passau, Bavaria, while some products are crafted in partnership with small artisanal manufacturers.
“Freda is capitalizing on the trends of ready-to-eat and convenience foods, and we believe their innovative approach can help shape the future of the market,” added Patrick Noller, General Partner at FoodLabs. “Having known the founders for many years, we’re thrilled to increase our investment in this exciting venture.”
The market for frozen ready meals in Germany is on the rise. According to Statista, the revenue for frozen foods in Germany surpassed €18 billion in 2022. This growth is driven by factors such as time constraints and consumers’ increasing desire for convenience, while simultaneously demanding healthier, high-quality food options. Freda’s founders aim to meet these evolving consumer needs with their innovative product offerings.
“In the long run, we want Freda to deliver the very best ready meals in every category. After a successful year in e-commerce, we are now looking to bring our bestsellers to a broader audience through retail,” commented Philipp Kraiss, co-founder and CEO, who previously expanded mymuesli to over 10,000 points of sale.
Read the orginal article: https://www.eu-startups.com/2024/09/german-food-tech-freda-secures-seven-figure-funding-for-its-premium-frozen-meals/
