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Tovala, the first-ever meal service paired with a countertop smart oven that scans, steams, bakes, and broils its chef-crafted meals, announces the close of a $30M Series C funding round led by Left Lane Capital, with participation from previous investors Finistere Ventures, Comcast Ventures, OurCrowd, Origin Ventures, Pritzker Group Venture Capital, and Joe Mansueto.
Cooking and preparing meals from home has increased 67% since COVID-19 began. After months of home-cooked meals, families are turning to prepared foods and easy prep meals as a way to save time and spice up their nightly dinner menus. In addition, 60% of home cooks report they rely on Instant Pots or similar appliances for their cooking routine for the simplicity, versatility, and convenience of making, flavorful meals with less cleanup.
An affiliate of New Water Capital Partners L.P., a Boca Raton, Fla.-based private equity investment firm, acquired Custom Made Meals, a Denver, Colo.-based manufacturer of fresh, oven-ready, value-added entrées and appetizers sold in more than 6,000 retail grocery locations nationwide.
TCL Packaging, London, in partnership with B&G Products, also based in London, developed what is said to be the first of its kind printed, stand-up, ovenable pouch for a range of frozen, fish-based, cook-in-the-bag meals.
Toray Plastics (America), Inc., North Kingstown, R.I., installed a new coating technology for its LumiLid brand polyester lidding film platform for advanced specialty lidding films.
