Irish smart-kitchen start-up Drop has secured its largest funding to date ahead of the announcement of a number of new partnerships.
Drop, an Irish start-up that develops technology for smart kitchens, has announced the closing of a new round of Series A funding worth $8m.
The round was led by Alsop Louie Partners, and includes investment from Irish firm Frontline; Ross Lewis, owner of Michelin-starred restaurant Chapter One; and Domini Kemp of Itsa.
As part of the deal, Alsop Louie Partners’ founder and lead, Stewart Alsop, has joined Drop’s board of directors.
Looking to the future, Drop said the funding will be used to continue the development of its KitchenOS platform for connected appliances in smart kitchens as well as to support the company’s partnerships with appliance manufacturers worldwide.
The start-up’s key hardware product is its Drop Scale, which connects the kitchen scale to an app on another device, allowing for accurate measuring with additional access to food and drink recipes.
In 2016, Drop announced a deal with kitchen technology giant Bosch to bring the KitchenOS platform to Bosch’s Series 8 internet of things network. It expanded upon these partnerships in 2017 by securing a similar deal with GE Appliances.
‘We found the perfect investor’
“This investment will allow us to accelerate our trajectory towards becoming the de facto platform for the smart kitchen, empowering anyone to make delicious food at home,” said Ben Harris, CEO and co-founder.
“We found the perfect investor in Stewart Alsop and the team at Alsop Louie, who bring experience in growing global platforms such as Twitch. Stewart himself has a wealth of indispensable experience, leading NEA’s investment in TiVo and sitting on Sonos’ board for seven years.”
Commenting on his firm’s decision to invest in the Irish start-up, Alsop said: “We invested in Drop because Ben and his team have a real vision for how to transform the basic cultural experience of cooking and consuming food in the home, as well as making it more entertaining and engaging.
“We think Drop can make that experience magical by partnering with every consumer appliance-maker around the world.”