About Innovate Services
Innovate Services is a Consumer company based in West Byfleet (United Kingdom) founded in 2007, and was acquired by Frostkrone Food Group in February 2020. School meals are catered via delivery and onsite preparation services. It operates in the Consumer, Business Services, and Retail sectors. Innovate Services has raised $11.89 million across 1 funding round from investors including Bridges Fund Management and Frostkrone Food Group. The company has 975 employees. The company was acqui-hired. Its focus areas include Food and Agriculture Tech, Food Tech, Catering and School Focused. Its legal entity is INNOVATE SERVICES LIMITED. Its competitors include EatFirst, Feedr and City Pantry; 3 of its 3 listed competitors have raised funding.
Company details
Innovate Services was founded in 2007 and is based in West Byfleet, United Kingdom. Operations focus on food catering for schools, where hot meals are delivered with all necessary food and equipment provided, or prepared onsite alongside service and cleanup. Meals include sandwiches, fruits, milk, fruit juices, and bakery items, prepared without chilling or freezing and using organic milk. Parents can pre-purchase meals and review weekly menus online.
- Headquarters West Byfleet, United Kingdom
- Employees 975
- Stage Acquired
- SectorsConsumerBusiness Services Retail
- Website innovatefood.co.uk
- Acquired by Frostkrone Food Group (Feb 2020)
- Legal Name Innovate Services Limited
- Date of Incorporation 07 Nov, 2007
- Jurisdiction WOKING, UNITED KINGDOM
- Annual Revenue$29.92 M (USD)3as on Jul 31, 2021
- Net Profit$1.34 M (USD)27as on Jul 31, 2021
- EBITDA-$1.24 M (USD)-217as on Jul 31, 2021
- Total Equity Funding$11.89M (USD)
in 1 rounds
- Latest Funding Round$11.89M (USD), Series A
Feb 2018
- InvestorsBridges Fund Management
& 1 more
- Employee Count975
- Acquired byFrostkrone Food Group
(Feb 2020)
Funding Insights of Innovate Services
Innovate Services has successfully raised a total of $11.89M through 1 strategic funding round. The most recent funding activity was a Series A round of $11.89 million completed in February 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $11.89M
- Total Rounds 1
- Last Round Series A — $11.89M
- First Round $11.89M
(Feb 2018)
- Investors Count 1
All 1 funding rounds of Innovate Services with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2018 | $11.89M | Series A | – | Bridges Fund Management | – |
2 investors in total: 2 institutional.
Investors in Innovate Services
Innovate Services has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Bridges Fund Management and Frostkrone Food Group.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Bridges Fund Management is focused on sustainable and impact investing. | bridgesfundmanagement.com | London, United Kingdom | ||
Frostkrone Food Group is engaged in producing innovative finger food snacks. | 1997 | frostkrone-foodgroup.com | Rietberg, Germany |
Investor details for Innovate Services
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People of Innovate Services
1 people are tracked at Innovate Services (1 in leadership); the tracked headcount is 975.
| Name | Role | Group |
|---|---|---|
Ken Navin | Managing Director | Leadership |
Complete people profiles for Innovate Services
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Timeline of Innovate Services
3 dated milestones of Innovate Services across 13 years, from founding to its latest funding, stage changes and deals.
- Founded Innovate Services is founded.
- Funding First funding round of $11.9M.
- Exit Acquired by Frostkrone Food Group.
Competitors of Innovate Services
Innovate Services has 3 listed competitors in our database, 3 of them funded. They include EatFirst, Feedr and City Pantry.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| eatfirst.com | 2014 | London, United Kingdom | $8M | 33 | Food orders and deliveries for offices are handled online. | |
| feedr.co | 2016 | London, United Kingdom | $2.67M | 35 | Office food catering services are offered via an online platform. | |
| citypantry.com | 2013 | London, United Kingdom | $8.75M | 71 | Healthy meals are delivered to offices through an online platform. |
Detailed competitors of Innovate Services
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Related news about Innovate Services
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Frequently Asked Questions about Innovate Services
Innovate Services was founded in 2007 and raised its 1st funding round 11 years after it was founded.
Innovate Services is headquartered in West Byfleet, United Kingdom.
Innovate Services is a funded company, having raised a total of $11.89M across 1 funding round to date. The company's 1st funding round was a Series A of $11.89M, raised on Feb 2018.
Innovate Services has 975 employees.
Annual revenue of Innovate Services is $29.92M as on Jul 31, 2021.
Innovate Services was founded in 2007 and is based in West Byfleet, United Kingdom. Operations focus on food catering for schools, where hot meals are delivered with all necessary food and equipment provided, or prepared onsite alongside service and cleanup. Meals include sandwiches, fruits, milk, fruit juices, and bakery items, prepared without chilling or freezing and using organic milk. Parents can pre-purchase meals and review weekly menus online.
Innovate Services's top competitors include Feedr, EatFirst and City Pantry.
Innovate Services has 2 investors. Key investors include Bridges Fund Management, and Frostkrone Food Group.
Innovate Services operates through Innovate Services Limited.
Yes. Innovate Services was acquired by Frostkrone Food Group in February 2020.