Germany’s HelloFresh raises $85M, values Rocket Internet company at $2.9B

HelloFresh, the Berlin-based company that delivers meal kits and recipes to subscribers, announced today that it has raised another $85 million.

The company, which is a product of Germany’s Rocket Internet’s startup factory, had previously raised $149 million back in February, primarily from Rocket. This time, the round was led by Baillie Gifford, a Scottish investment firm.

According to HelloFresh, its valuation is now $2.9 billion, up from $680 million after the last round. On paper, that gives Europe one more unicorn to brag about.

Despite the size of the investment, Rocket Internet will only see its share of the company drop from 58.9 percent to 57.2 percent. That means Baillie paid big bucks for a small sliver of HelloFresh.

HelloFresh is one piece of Rocket’s broader bet on food-related online services.

Rocket now has a 30 percent stake in Delivery Hero, the Berlin-based ecommerce startup that facilitates delivery from local restaurants.

Delivery Hero is part of Rocket’s Global Online Takeaway Group. That group also includes the Rocket-backed Foodpanda, which had been a rival of Delivery Hero in Asia.