SAN FRANCISCO, CA, Smart kitchen company Drop, today announced that it has closed $8 million in Series A venture financing.
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The round was led by Alsop Louie Partners with participation from internal investors Frontline and WI Harper, and Ireland's top chef, the Michelin-starred Ross Lewis. Drop also announced that Founder and lead Partner, Stewart Alsop has joined the company's board of directors.
The money will be used for working capital to continue development of Drop's KitchenOS platform for connected appliances in the smart kitchen of the future as well as to support the company's partnerships with appliance manufacturers worldwide.
In 2017, Drop launched partnerships with Bosch and GE Appliances, making it possible for owners of connected ovens to control them straight from a recipe on the Drop platform. This coming year, the company will be announcing multiple new partnerships with the world's largest appliance brands.
"This investment will allow us to accelerate our trajectory towards becoming the de facto platform for the smart kitchen that empowers 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, and Stewart himself has a wealth of indispensable experience, leading NEA's investment in TiVo and sitting on Sonos' board for seven years."
"We invested in Drop Kitchen 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," said Stewart Alsop, partner, Alsop Louie Partners. "We think Drop can make that experience magical by partnering with every consumer appliance maker around the world."
About Alsop Louie Partners:
Alsop Louie Partners is an early-stage technology venture firm based in San Francisco, CA. The firm looks for outstanding entrepreneurs who want to start and grow companies that will be significant drivers of the next technology cycle, which it calls the Evernet. The firm was founded by Stewart Alsop, industry pundit and venture investor, and Gilman Louie, video game entrepreneur and cybersecurity investor.
Drop, a technology company based in Dublin, Ireland and San Francisco, CA, started by developing smart kitchen devices to empower a community of home chefs. They are now accelerating their mission of empowering home chefs across the globe to make delicious food by connecting smart appliances to recipes through one single platform, the Drop Recipes app. They have already launched partnerships with Bosch and GE Appliances with more partnerships to be launched through 2018. The app is available for free on the App Store and Google Play and has thousands of quality recipes from partners like Food 52 and Good Housekeeping, plus top chefs like Donal Skehan and Jessica Entzel. Domini Kemp, Ireland's top food writer and Learn more about Drop's brand partnerships on kitchenos.com.