Overview

Tovala combines hardware, software, and food to simplify home cooking with its main product, the Tovala Smart Oven. This countertop appliance works with Tovala's meal delivery service, allowing customers to scan QR codes on pre-prepared meals, which the oven then cooks automatically. This system is aimed at busy individuals and families who want healthy, home-cooked meals without spending much time in the kitchen. Tovala differentiates itself from competitors by offering a seamless integration of a smart oven and a subscription meal service, ensuring that meals are specifically designed for optimal cooking in their oven. The company's goal is to provide convenient, nutritious meal options while fostering a positive work culture and supporting its employees.

Simplify's Take

What believers are saying

• Partnership with Jesse Tyler Ferguson enhances brand visibility and broadens audience reach.
• Launch of affordable Smart Oven Air Fryer attracts cost-conscious consumers, expanding customer base.
• $30M Series C funding fuels growth and innovation in food technology sector.

What critics are saying

• Increased competition from smart kitchen appliance companies like June Oven and Brava.
• Potential supply chain issues due to semiconductor shortages affecting smart oven production.
• Rising costs of ingredients and logistics could impact meal delivery pricing and profitability.

What makes Tovala unique

• Tovala combines a smart oven with a meal delivery service for convenience.
• The Tovala Smart Oven automates cooking through QR code scanning for effortless meals.
• Tovala targets health-conscious consumers with chef-crafted, nutritious meals and smart technology.

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Funding

Total Funding

$69.6M

Below

Industry Average

Funded Over

6 Rounds

Notable Investors:

Y Combinator

Notable Investors:

Y Combinator

$30,000,000

Series C

Feb 2021

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.

Series C Funding Comparison

Below Average

Industry standards

Ind Avg. $50M

$16M

$30M

$40M

$50M

$62M

$100M

View all funding stages