QuiToque raises €1.5m from Isai et al.

Regional investor NCI and two business angels also took part in the round. The funds, the first to be raised from institutional backers by QuiToque since its foundation in 2012, will finance its expansion across France.

Having reportedly grown to deliver 40,000 meal kits in France per month, the business will now focus on new hires, investments in its digital infrastructure and partnerships with food producers.

French VCs 360 Capital and Isai both closed funds in December 2015. Late last year, 360 Capital wrapped up fundraising for its latest seed vehicle on €35m, with plans to announce a maiden deal in early 2016.

Meanwhile, Isai's second venture fund broke its €70m hard-cap when it closed on €75m, unquote" learned in December. At the time, Isai said that work was underway to announce a new deal for the fund, which turned out to be QuiToque.

NCI, a private equity fund that backs SMEs in the Normandy and Ile-de-France regions, invested alongside Isai and 360 Capital. The three firms were joined by Sébastien Forest and Nicolas d'Audiffret, the entrepreneurs behind the AlloResto and Alittlemarket startups. 

Company
Founded as Cookin'theworld in 2012, QuiToque specialises in the home delivery of meal kits. Customers pay a subscription in return for a weekly basket containing ingredients and a set of recipes put together by professional chefs. With headquarters in Paris, the business employs around 12 people.

People
Isai – Thierry Vandewalle (venture partner).
QuiToque – Celine Nguyen (co-founder); Gregoire Roty (co-founder, marketing director); Etienne Boix (co-founder, operations director).

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• Topics
• Expansion
• Consumer
• France
• Venture
• France
• ISAI