My Food Bag

Early Funding Path

Angel & Crowdfunding

First Customers

Busy families

Founded (Year)

2013

Key Tactics

Subscription model

Type

Meal‑kit delivery

Vertical

D2C Brand

Website

myfoodbag.co.nz

The founders self-funded the initial Auckland launch; in October 2016 they accepted investment from Waterman Capital, which acquired a majority stake (around 70–77%) to support growth.

Auckland families ordering weekly meal kits were first customers; rapid growth extended deliveries to Wellington (September 2013) and the South Island (November 2014).

Startup Rollercoaster

The Spark

In 2013, Cecilia Robinson, James Robinson, celebrity chef Nadia Lim and her husband Carlos Bagrie, together with former Telecom CEO Theresa Gattung, launched My Food Bag. They wanted to make healthy cooking easy by delivering ingredients and recipes to families. Deliveries began in Auckland in March 2013.

The Peak

Those first users validated the idea and spread it by word-of-mouth. My Food Bag expanded to Wellington in September 2013 and to the South Island in November 2014. The product range was broadened over time (e.g. Bargain Box in 2016, Fresh Start in 2017), the business grew significantly in size and recognition.

The Drop

Rapid scaling brought logistical and operational challenges, including maintaining ingredient quality, managing supply chains, expanding courier networks, and ensuring customer satisfaction.

The Reset

Investment from Waterman Capital in 2016 provided capital and board support for scaling operations. Leadership changes followed: Kevin Bowler was appointed CEO in May 2018, while founders transitioned to non-executive roles.

The Discipline

The company refined forecasting, supplier relationships, customer support, and product innovation (adding multiple product lines: Bargain Box, Fresh Start, ready-made meals, plant based options). Ingredients are mostly locally sourced and recipes designed to appeal broadly.

The Climb

In March 2021 My Food Bag listed on NZX and ASX via IPO, with a market cap of about NZ$449 million. The company had delivered over 85 million meals since starting in 2013 and built a large, recognised customer base. Founders stepped back into governance roles as the business matured.

https://en.wikipedia.org/wiki/My_Food_Bag
https://www.nzx.com/companies/MFB/announcements
https://www.nzherald.co.nz/business/my-food-bag-seeks-up-to-342m-in-ipo-sets-march-5-date-for-dual-listing/H4KS4GW5NFNE5F35JY3LBLML5Y/

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