EXCLUSIVE: Milk & Eggs Raises $6m Seed Funding for ‘Made-to-Order’ Online Farmers Market
Milk & Eggs , a Los Angeles-based online perishable food trade and delivery service connecting growers and artisanal food makers with buyers, has completed a $6 million seed round.
“After having been in eCommerce for 15 years, in an effort to help out, I bought diapers, baby clothing and a TV all online. But then was astounded and dumbfounded that there were no options for food.”
Pastries are bought from the local pastry shop, not a Goliath store that has low quality or a pastry factory hundreds of miles away with 2-3 day old food.” While general competitors are stores like Walmart, Kroger, Whole Foods, and online delivery services like Instacart and Amazon Fresh, Milk & Eggs is different as what’s purchased is made-to-order. The simplest way to put it is, Milk & Eggs is an online producer’s market that delivers; it’s like it’s providing people with their own personal grower, explains Wu. “That carrot that you’re ordering is still in the ground at the farm,” Wu explained. “The bread that is being delivered hasn’t been baked yet.
After an order is placed, the farmer harvests or makes the food for the customer.” The financing round, which ceased trading the first week of September, was put together quickly and Wu and Chan both participated in this round as well. Morningside Venture Capital has a long history of investing in container urban farming and other health and biotech firms. “They have a wealth of expertise in health, bio, and technology.
Ag Tech is a small subset of their portfolio, but we’re confident their experience will translate to our industry. Operations,” Wu explained. “We were very fortunate that this process was rather speedy and Morningside appreciated and understand the capability of our model.
- Who: Milk · Eggs · Morningside Venture Capital · Kent Wu
- Money: $6 million · $500,000
- Figures: 6 million
