TA Ventures, together with a group of international investors Fabrice Grinda, Co-CEO and Co-Founder of OLX and Jose Marin, Founding Partner and Managing Director of IG Expansion have invested in Mile High Organics, which is a US e-commerce company that delivers the highest quality organic produce and GMO-free groceries to homes and offices. The investment raised will be used to expand product line, to intensify sales and direct marketing efforts, as well as to undertake geographic expansion.
Since it launch in June 2010 in Colorado, USA, the Company has achieved a multi-million dollar run-rate and provides 7day/week organic food delivery to over 200 Colorado zip codes. With this investment, the Company is projecting to achieve a 400% increases in sales by the end of 2012 and to expand its operations to other states.
Mile High Organics uses a direct marketing, membership-based model with recurring fully customizable orders that are based on seasonal variety and taste preferences of its customers. The Company provides unique recipe cards with each produce bin that allow customers to prepare delicious, healthy meals that are free from any harmful ingredients and are packed full of nutrition for lifelong health and wellness.
“Mile High Organics is an innovative player serving the largest consumer market in the United States, focusing on local organic food products and minimization of environmental impact. The Company is developing a truly disruptive e-grocery model to compete for the burgeoning natural and organic grocery market. It allows its customers to incorporate fresh, organic food into their diet for their best health and best life. Just over one year, the Company achieved thousands of delighted members and recurring orders. We are very excited about our investment in Mile High Organics and are confident that the Company is uniquely positioned and capable of becoming a leading player in the US organic grocery delivery market and expanding its business to other countries”, said Viktoriya Tigipko, Director of TA Ventures.
"We have a dramatic vision for disrupting the global food system with our unique e-grocery approach. We think that strong and emerging markets exist within Europe, which distinctly includes the rapidly developing east. We are proud to have global partners in our quest and we believe they will help lead to our ultimate success", said Michael Joseph, Co-founder and CEO