September 18, 2024
Passau-based FoodTech Freda Secures Funding in Seed Round led by Graphit NeoTaste to Expand its Product Offerings
Passau, Germany -
Freda, a food-tech startup specializing in high-quality frozen convenience foods, has raised an undisclosed amount in a seed funding round on September 17, 2024. The round was led by Graphit NeoTaste with participation from FoodLabs, Combination Ventures and a group of business angels. Freda aims to innovate in the frozen food market by offering artisanal pizzas and other premium frozen meals. This latest funding will help the company enhance its product portfolio and expand its market reach.
About the company
Freda, headquartered in Passau, Bavaria, was founded in 2022 with a mission to bring true craftsmanship to the frozen food sector. The company currently offers a range of high-quality, hand-made frozen pizzas, available exclusively through its webshop. With its artisanal approach, Freda aims to elevate frozen meals from a convenient option to a favored dining choice and to expand its offerings to meet the growing demand for convenient yet healthy meal solutions.
Since its launch, the startup has gained over 20,000 customers and experienced double-digit monthly growth. Freda’s current product line includes a variety of artisanal pizzas, with plans to introduce high-protein options, lasagnas, gelato, and sorbets. These products are made using a combination of in-house production and collaborations with small, artisanal producers.
Purpose of financing
The fresh capital will allow Freda to expand its product portfolio beyond pizzas to include other innovative frozen offerings. The new funding will also support Freda’s efforts to expand its presence into new markets, with Austria being a key target for future growth. In addition to geographic expansion, the company is looking to secure retail listings to broaden its customer base beyond its current online distribution model
What the company’s official has to add
“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.”
— said Philipp Kraiss, co-founder and CEO
What the investors have to comment
“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”
— commented Stefan Rathgeber, Co-Managing Director of Graphit NeoTaste GmbH.
“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. Having known the founders for many years, we’re thrilled to increase our investment in this exciting venture.”
— highlighted Patrick Noller, General Partner at FoodLabs
Conclusion
The market for frozen ready meals in Germany is on a rapid growth trajectory, with revenue surpassing €18 billion in 2022. Consumers’ increasing demand for convenient and healthy food options is driving this growth, and Freda aims to position itself as a leader in this evolving market. With this new round of funding, Freda is well-positioned to continue its growth, offering consumers a diverse range of premium frozen meals that combine convenience with quality.
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