Deal Dive: Startups can still raise capital — even if it’s for a good cause

When venture funding started to slow in 2022, many feared that investors would retreat to where they were comfortable: SaaS companies founded by folks in their network. And any company that wasn’t posting top growth metrics would struggle to secure funding. While this has largely been true, there have been bright spots. Everytable’s recent round is one of them.

The mission-driven food tech startup looks to make healthy prepared food, including wraps and salads, as accessible and affordable as fast-food chains. The startup prices its menu based on where each individual store is located in addition to distributing through a variety of other channels, including branded vending machines and delivery.

On June 27, the startup announced a $25 million Series C-2 round led by Dohmen Impact Investment Fund, which backs for-profit companies building food solutions to enhance human health, in addition to existing investors. This round will help the company expand its retail footprint; Everytable hopes to open up 25 stores in the latter half of 2023.

This deal is notable for a few reasons — none of which being that it got announced amid the mass VC summer exodus at the end of June. Someone is still working!