Simply-Bread.co has announced it has secured $4.6 million in new investment capital from investors. The company provides software and hardware solutions designed to empower microbakers, enabling them to establish and grow successful artisanal bread businesses. This funding round underscores investor confidence in the burgeoning market for local, sustainable, and small-scale bread production, which addresses a significant demand within the 5.6 billion loaves of bread sold annually in the US.
The company's core offering includes an integrated platform of software and hardware specifically tailored for small-scale artisan bakers. This includes a connected oven, which is slated for launch in Q4 2021. Simply-Bread.co aims to equip these entrepreneurs with the necessary tools to streamline their operations, enhance production, and effectively serve their local communities with high-quality, freshly baked goods. The investment will be instrumental in accelerating the development and deployment of these specialized tools.
Simply-Bread.co plans to strategically deploy the newly raised capital to fuel its growth initiatives. A primary focus will be on expanding its product development efforts, particularly in advancing its connected oven technology and refining its software suite. The funding will also support scaling operations to reach a broader network of microbakers across the country, strengthening their ability to meet the increasing consumer preference for locally sourced and sustainably produced food items.
This capital infusion positions Simply-Bread.co to significantly enhance its support for the growing community of independent bakers. The company is focused on expanding its integrated platform and extending its reach, ultimately aiming to empower more entrepreneurs to thrive while contributing to the vitality of local food economies.
