Irish smart kitchen tech player Drop aims to become the Android of food and has raised €11.85m ($13.3m) as it fires up ambitions for global success.
Dublin-based Drop has raised €11.85m from investors who include Android co-inventor Steve Horowitz of Alpha Edison as well as Morpheus Ventures and Dublin-based Act Venture Capital.
The investment brings to more than $20m raised by Drop so far from investors that also include Frontline as well as Domini Kemp and Chapter One owner Ross Lewis.
“Kitchens need Drop – they are a mix of motors, sensors and heating elements, with wildly different interfaces, and recipes written in a hundred-year-old format”
Founded in 2012 and employing 42 people in Dublin, San Francisco and Zaragoza, Drop believes it can unify the fragmented cooking experience by integrating appliances of all kinds with a recipe app that makes perfect cooking simple.
Cooking up a storm in the smart kitchen
The company’s KitchenOS software has been integrated into smart kitchen products by manufacturers such as Bosch, Electrolux, Kenwood, GE, Thermomix and Panasonic.
Horowitz, partner at Alpha Edison, and Ray Musci, managing director at Morpheus Ventures, will also join Drop’s board of directors.
Horowitz led the engineering team that created Android and views Drop’s technology as the foundation of the connected kitchen, providing an agnostic platform that allows every appliance in the kitchen to work seamlessly together.
“In the same way Android armed an industry to compete in the smartphone game, Drop is primed to be the platform that all brands operate on, fundamentally changing the way we use technology in the kitchen. The consumer experience will be enhanced dramatically to the benefit of everyone — people cooking at home and the appliance manufacturers,” Horowitz said.
Staying in is the new going out
The global home appliances market is valued at $200bn.
Big brands looking to secure loyalty and customer engagement find it hard to compete with hardware alone in a space that’s being threatened by data-rich online marketplaces like Amazon.
Expected to innovate quickly and cheaply, these companies work with Drop because they need a neutral partner with expertise in backend infrastructure and compelling software that can be accessed without the time and expense of in-house teams.
“Kitchens need Drop – they are a mix of motors, sensors and heating elements, with wildly different interfaces, and recipes written in a hundred-year-old format,” said Ben Harris, CEO and co-founder of Drop.
“Our platform marries your appliances and favorite recipes into a magical, connected, experience. Drop makes cooking so rewarding and easy that people choose to make food at home instead of just getting takeout, sparking joy in all of those homes.”
Drop’s Kitchen OS connects all stages of the cooking journey, operating as a place where appliance manufacturers, recipe publishers and grocers can come together to inspire and guide everyday cooks at home. The experience gives home cooks consistent success and the most value from their appliances, while R&D teams receive never before seen information on how those appliances are being used.
“Consumers are looking for ease of use, less friction, and security,” said Ray Musci, managing director at Morpheus Ventures.
“The brands working with Drop drive engagement through a rich UX with data that informs better product development. Demonstrating value like that for both the consumer and manufacturer is how the connected kitchen will thrive.”
Written by John Kennedy (email@example.com)
Published: 9 June, 2020