Move over Juicero. Household smart-device developer Brava has raised an undisclosed amount of funding from TPG Growth, with additional backing from TPG’s $2 billion Rise Fund.
A host of other investors, including Lightspeed Venture Partners and Next Coast Ventures, also participated in the round. Brava’s CEO John Pleasants hasn’t said much about Brava, which raised $12 million last year. TechCrunch reported that the company is “building a system that makes it easier to cook and eat well at home.”
Food-based IoT tech got some bad press recently from Bloomberg’s mini-exposé on Juicero’s $400 machine that juices as well as…bare hands. (Early-stage tech investments are full of risk, both in development and in the market.)
Other food-related technologies are successfully raising capital on the promise of helping consumers make healthier eating choices, like Belfast-based arc-net and its blockchain-based solution to combat food fraud.