About Tovala
Tovala is a company based in Chicago (United States) founded in 2015 by David Rabie.. Tovala has raised $61.9 million across 9 funding rounds from investors including OurCrowd, Seamless and The University of Chicago. Tovala has completed 1 acquisition, including Tovala. Tovala offers products and services including Tovala Smart Oven and Fresh Meals. Tovala operates in a competitive market with competitors including Brava Home, Level, Inductive Intelligence, Celcy and Balmuda, among others.
- Headquarter Chicago, United States
- Founders David Rabie
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Sectors
ConsumerRetail Technology
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Email
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Phone
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Website
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Social
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- Legal Name Maestro Food Co
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Products & Services of Tovala
Tovala offers a comprehensive portfolio of products and services, including Tovala Smart Oven and Fresh Meals. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Countertop oven that automates cooking via WiFi for various foods.
Weekly delivered, pre-prepped meals for easy home preparation and cooking.
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Leadership Team
8 people
Creative and Marketing Team
6 people
Human Resources and Administration
5 people
Product Management Team
4 people
Sales and Marketing
4 people
Operations Team
4 people
Software Development Team
4 people
Finance and Accounting
3 people
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Funding Insights of Tovala
Tovala has successfully raised a total of $61.9M across 9 strategic funding rounds. The most recent funding activity was a Series C round of $30 million completed in February 2021. 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 Total Funding
- Total Rounds 9
- Last Round Series C — $30.0M
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First Round
First Round
(29 May 2015)
- Investors Count 27
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2021 | Amount | Series C - Tovala | Valuation | Left Lane | |
| Jun, 2020 | Amount | Series B - Tovala | Valuation | Finistere Ventures | |
| Feb, 2018 | Amount | Series A - Tovala | Valuation | Tyson Foods |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Tovala
Tovala has secured backing from 27 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include OurCrowd, Seamless and The University of Chicago. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location | |
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Comcast Ventures is focused on investing in technology startups.
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Founded Year | Domain | Location | |
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VC firm investing in the US
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Tovala
Tovala has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Tovala. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Fresh meal delivery service is provided by Tovala.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Tovala
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Tovala Comparisons
Competitors of Tovala
Tovala operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Brava Home, Level, Inductive Intelligence, Celcy and Balmuda, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Provider of smart oven
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| domain | founded_year | HQ Location |
Level is recognized as a specialized law firm focusing on media, entertainment, technology, and sports sectors.
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| domain | founded_year | HQ Location |
Manufacturer of IoT-powered induction devices for kitchen appliances
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| domain | founded_year | HQ Location |
Smart ovens with app control are provided by Celcy.
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| domain | founded_year | HQ Location |
Internet first brand offering home appliances
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Tovala
Frequently Asked Questions about Tovala
When was Tovala founded?
Tovala was founded in 2015.
Where is Tovala located?
Tovala is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
Who is the current CEO of Tovala?
David Rabie is the current CEO of Tovala. They have also founded this company.
Is Tovala a funded company?
Tovala is a funded company, having raised a total of $61.9M across 9 funding rounds to date.
What does Tovala do?
Tovala was founded in 2015 in Chicago, United States, and operates in the smart kitchen appliance sector. Connected ovens are offered with features such as broiling, steaming, convection, microwave heating, toasting, scan-to-cook functionality, and integration with a mobile app available on Android and iOS. Subscription-based smart meals are also provided, which are automatically detected and cooked using preset cycles.
Who are the top competitors of Tovala?
Tovala's top competitors include Brava Home, Level and Balmuda.
What products or services does Tovala offer?
Tovala offers Tovala Smart Oven and Fresh Meals.
How many acquisitions has Tovala made?
Tovala has made 1 acquisition, including Tovala.
Who are Tovala's investors?
Tovala has 27 investors. Key investors include OurCrowd, Seamless, The University of Chicago, Tyson Foods, and Finistere Ventures.