Online food & drink marketplace FodaBox (formerly BoroughBox) has secured a £2.1 million investment from Maven VCTs. Fodabox provides fulfilment, sales and distribution services to some 1400 independent food and drink retailers across the UK. It enables artisan producers to reach a wider market, connecting them to a growing customer base of more than 100,000 registered users.
The investment comprises £1.5 million from the Maven VCTs alongside £600,000 from angel investors. This will enable the business to expand its operations, open a third warehouse, further develop its analytical software tools and launch its own private-label products.
“Having spent the first few years establishing sales channels and services infrastructure for independent producers and brands, we’re now excited about working with a partner like Maven to continue scaling the business and delivering our mission of helping the challenger brands of today become the mainstream brands of tomorrow,” said Andrew Lawson, CEO, FodaBox.
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