Restaurants

Home delivery reverses Farmer’s Fridge COVID-19 setback; company raises millions

Image courtesy of Farmer's Fridge.

April 12, 2021

Farmer's Fridge, which operates dedicated fresh food vending machines, recovered quickly from an 85% sales drop caused by the pandemic, and is back on the expansion track, according to a Bloomberg report.

The main growth engine has been the home delivery business that the company launched in response to the pandemic.

The company took a $2.6 million PPP loan to fund the home delivery launch to existing Chicago, Philadelphia and New York markets.

In May, the company was back to 95% of pre-COVID revenue. That month it also raised an additional $40 million from investors, raising its total funding to $76 million, followed by an additional $2 million in PPP funding.

The company launched a line of heatable plates for people to order, said CEO Luke Saunders.

In January, the company announced a partnership with Dunkin' Donuts, making its jars of grain bowls and fresh salads available in some Dunkin' Donuts stores.

The company has since partnered with UPS to deliver food to people, and also launched in Target, beginning with 23 stores.

For an update on how the coronavirus pandemic is affecting convenience services, click here.