ingarden, a German-American startup with the mission to provide a revolutionary alternative to dietary supplements, has closed a funding round of €500K, in which some of Europe’s most well-known D2C founders participated including Anne & Stefan Lemcke (founders of Ankerkraut), Gennadi Tschernow & Björn Keune (founders of Invincible Brands), Norbert Neef (co-founder of Oceans Apart), Nikita Fahrenholz (co-founder of Delivery Hero), Monique Hoell (founder of HelloBody), and James Hill & Henry Gwilliam (founder of Hairburst).
With the fresh funds from the financing round, Ingarden plans to expand its subscription business further and increase its market share.
Anne Lemcke, one of the Ankerkraut founders, commented on their decision to invest: “ingarden’s innovative approach to make healthy, home-grown microgreens easily accessible for everyone has us convinced. We believe in the team’s vision and are excited to support their growth.”
Cofounded by Mariana Ferreira and Christian Saitner, ingarden has a revolutionary approach to dietary supplements. The German-American startup enables the cultivation and consumption of nutrient-rich microgreens directly at home, with good design and functionality.
With its innovative hydroponic technology and award-winning smart garden design, the company enables the cultivation of fresh, nutrient-rich microgreens directly at home. In just seven days, customers can harvest the most nutrient-dense superfoods from their own garden, contributing to a healthier, more radiant, and vibrant lifestyle. Additionally, there is growing evidence that a phytochemical compound known as sulforaphane, found in microgreens, effectively prevents and treats various cancers.
The foodtech startup recorded impressive success in its first year, generating almost seven-figure annual revenue. Ingarden relies on a subscription model, which already accounts for 50% of total revenue, and boasts an impressive customer retention rate of 60% after ten months.
Recently, ingarden entered the circular economy with its newest product made from ocean waste plastic, demonstrating its commitment to sustainability. This follows the company’s first entry in recommerce with the ingarden flex, a way for consumers to rent the company’s product. In the future, they also plan to expand their range to include other greens beyond microgreens. The microgreens market is booming with a CAGR of 13.8% and an estimated size of 2.6 billion by 2026, while the indoor gardening market encompasses 120 billion.
The founders, Mariana Ferreira and Christian Saitner, met during their time at Invincible Brands. Mariana lives in Portland, Oregon, and drives growth in North America, while Christian focuses on the European market from Berlin. “Working across two continents and the resulting nine-hour time difference provides unique advantages. As a result, we can work practically around the clock and maximize productivity in the US and Europe. This allows us to respond faster to customer inquiries and continuously advance our innovations,” say Mariana Ferreira and Christian Saitner, founders of Ingarden.
Read the orginal article: https://www.eu-startups.com/2023/05/portuguese-foodtech-ingarden-secures-e500k-in-funding-to-revolutionize-the-cultivation-of-microgreens-at-home/
