Home FoodTech Meal delivery startup Feast & Fettle Raises $1.2M in Seed Funding

Meal delivery startup Feast & Fettle Raises $1.2M in Seed Funding

Feast and Fettle, a Rhode Island and Massachusetts based fully-prepared meal delivery service closed a US$ 1.2 million seed funding round held in November 2020. It was led by Salem Capital Management, which is one of the family offices of Paul Salem, Senior Managing Director, Chairman at MGM Resorts and Emeritus at Providence Equity Partners.

The funding will immediately go toward expanding Feast & Fettle’s kitchen facility in East Providence, starting a new kitchen in southern Connecticut and recruiting about 20 new employees to work on marketing, growth and technical operations. The company plans to build a customised production facility to serve the Boston metropolitan area in early 2021. Future facilities will be located in Connecticut and launched in late 2021.

Prior to this round, the startup raised a small round of funds from friends and family, including Chairman and CEO of Water Rower Inc., Peter King.

 Feast & Fettle has been working as a distribution partner for local businesses like Wrights Farm and Seven Stars Bakery since the spring. That extra service was originally launched to help individually owned restaurants and food distributors that had been hard-hit by the Covid-19 pandemic, but CEO Carlos Ventura told that he intends to keep it as a feature for subscribers.

What Feast and Fettle has to say

Carlos Ventura, CEO of Feast and Fettle quoted, “It’s just been a rollercoaster this year. We’ve done contactless delivery for a while, so we’re very comfortable with that concept, but our members are now very much aware, and our service became, for some folks, more of a need. I think what Covid did was accelerate the macroeconomic trend of people wanting more convenience.”

About Feast and Fettle

Feast and Fettle

The startup was Launched in 2016 by personal chef Maggie Mulvena Pearson and is led by CEO Carlos Ventura. It delivers gourmet, restaurant-quality meals to their member base in Rhode Island and Massachusetts. Instead of focusing on large-quantity production, the company has made its success by serving busy families and professionals.

About Salem Capital Management

Salem Capital Management (SCM) is a family-owned investment firm located in Providence, Rhode Island. It was founded by Paul Salem, a longtime executive at Providence Equity and current Chairman of MGM Resorts International and in 2020, Chris Satti, a Rhode Island native and longtime private equity professional at Audax Group, joined SCM as President.

The company funds family and entrepreneur-owned companies throughout New England and nationally, providing patient, flexible growth capital, and strategic support. Their investments include The Guild Brewery, Seven Stars Bakery, the Pawtucket Red Sox, National Marker Corp., and Knack Backpacks.

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