Minnow Tech. raises $3M in latest round

Written by James Shea

Food delivery startup Minnow Technologies has raised $3 million during a round of funding. Early-stage venture fund Branded Strategic Hospitality led the round. Elevate Capital and Portland Seed Fund also participated.

In total, the Seattle-based company has raised $6.4 million.

“This funding demonstrates the importance of Minnow’s technology for solving the last-mile problem in food delivery,” said Steven Sperry, Minnow co-founder and CEO. “With the food delivery market in the United States expected to exceed $28 billion this year, and with all the major delivery platforms still losing money, solving the last-mile problem is urgent.”

Founded in 2017, Minnow manufacturers lockers that are a secure and contact-free way to deliver and pick up food. They can be used anywhere food is delivered, such as multifamily residential buildings, office buildings and college campuses. The goal is to create more efficient deliveries by streamlining the process. They are similar to products being used at grocery stores for picking up an online order.

“We’re excited to help drive Minnow’s growth,” said Jimmy Frischling, co-founder and managing partner of Branded Strategic Hospitality. “There’s an enormous opportunity to reduce last-mile delivery costs for both restaurants and delivery companies while making food delivery more affordable and convenient for consumers.”

The cubes are insulated to preserve food and designed to reduce the spread of germs. According to Minnow surveys, 80% of delivery workers say they are very satisfied with their experience delivering to the company’s lockers, and 97% of consumers would rather pick up from a locker than receive their food directly from a delivery worker.

“Minnow has a proven and unique solution to the last mile problem,” said Nitin Rai, founder and managing partner of Elevate Capital, “and its technology is fast becoming an essential layer in the food delivery tech stack.”

Other articles you may like

Online grocery sales increase 17%

Online grocery sales increase 17%

Inflation has impacted the entire food and beverage sector, and the grocery industry is no exception. According to the...