Gwyneth Paltrow & Serena Williams Invest In Frozen Food Startup Daily Harvest


New York, United States  — Daily Harvest, a subscription service delivering easy-to-make superfoods directly to customers’ freezers has completed a Series A round that included investment from Gwyneth Paltrow and Serena Williams.

The round, the size of which has not been disclosed, also featured investment from Collaborative Fund, which has made previous investments in Lyft, Reddit and Quora, Rubicon Venture Capital and WME Ventures, whose portfolio covers healthy dog food company Ollie and beauty brand Glossier.

With a view to educate and encourage Americans to incorporate healthier foods into their busy lives, partnering with like-minded investors such as these, will help to further Daily Harvest’s mission to redefine the frozen food category, explained Founder Rachel Drori.

One of the fastest-growing companies in the direct-to-consumer food space, delivering frozen, single-serving, organic smoothies and soups made with farm-frozen ingredients, since launching nationwide one year ago, Daily Harvest has shipped more than 1 million smoothies. However, convincing consumers about the benefits of frozen food is an ongoing battle.

“One of the challenges that Daily Harvest has ahead of us is people have a misconception of frozen food. They think of pizza and frozen, microwaveable dinners,” Drori explained to Fortune —  an attitude that will take considerable work to shift.

Yet, despite the category’s negative reputation, Paltrow and Williams understand the brand’s mission to provide convenient foods without nutritional compromise, she revealed.

“Frozen food gets a bad reputation but it’s actually a very practical way to consume nutrient dense-foods,” said Paltrow, when questioned on her decision to align herself with the startup.

“Farm-frozen produce is picked at its nutritional peak, retains more nutrients and it’s more readily available to everyone. For this reason, Daily Harvest really resonated with me and I am so excited to get behind a revolution in frozen with my investment,” she added.

The actress and founder of lifestyle brand Goop is somewhat of an expert when it comes to wellness, and has previously invested in organic skincare line Juice Beauty, US blowdry chain Blo and athletic apparel brand Outdoor Voices. In fact, Paltrow is such an authority on health and wellness, that Drori believes her involvement with the brand will encourage more consumers to give the frozen food category a chance.

Aside from Paltrow and Williams’ affiliation, “as shoppers continue to shift their purchases online for groceries and health foods, Daily Harvest is poised to be a leading innovator,” argued Beth Ferreira, Managing Partner of WME Ventures.

But, while subscription-based food services have enjoyed significant growth over the last few years, to truly capture the mainstream market, prices need to be competitive. This Drori told Fortune, is a strategy that’s on the cards. In the meantime, however, early adopters will have to continue shelling out $47.94 for 6 weekly portions  currently the brand’s starting option.Subscribe for Global Wellness News


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