This is one in a series of interviews with CFIN member companies that have successfully applied for and received funding.
Calgary, AB-based Nutrimeals Inc. offers healthy, ready-to-eat meals incorporating personalized nutrition and fitness requirements and delivers them to customers through a monthly subscription service. The company is receiving $98,206 in funding through CFIN’s Innovation Booster program to complete an initiative that aligns with CFIN’s smart product and process development priority. We sat down with co-founder Samuel Hale to find out more about the company’s plans.
Q: What does Nutrimeals do and how are your products improving the food industry?
A: We provide customers with healthy prepared meals that are delivered directly to the consumer. Our users order meals for the week, which cuts down on delivery frequency and packaging. We also analyze orders ahead of the delivery day. We plan our purchasing and production accordingly and have less than 0.5 per cent of production waste. All of our packaging materials are reusable and/or recyclable. Approximately 75 per cent of healthcare spending is to treat chronic disease, which can be linked back to a patient’s diet. We tackle this at the source and help our customers eat healthy.
Q: What is Nutrimeals’ mission?
A: To create a space where healthy eating and convenience co-exist.
Q: Why did you apply for this funding and how will you use it?
A: We applied to be a part of the CFIN community to meet other professionals that are innovating in the food space. We are using the funding to advance our Precision Nutrition program and develop our new online ordering platform.
Q: What excites you most about working in this area of the food industry?
A: The ecommerce industry is only 20 years young! The online food space is even younger at about 10. There’s still opportunity to change the way people purchase food online and we plan to be in the forefront.
Q: Why do you think public funding is important in helping companies clear innovation hurdles and access leveraged funds?
A: Programs such and CFIN’s booster help privately held companies like ours gain exposure to markets and opportunities. The reimbursable grants also offer monetary gain without giving up equity or paying interest. It helps boost cashflows and keep a clean cap table.
Q: Looking ahead, what’s on the horizon for Nutrimeals?
A: Nutrimeals is transforming into a food-tech company.
Q: What are your passions or hobbies outside of work?
A: Cars, technology, and finance.
Q: If you had to pick one person to make you a meal, who would you choose?
A: I would skip the celebrity chefs. Sometimes it’s better not to meet your heroes. Their food looks so good on screen, I wouldn’t want to be disappointed! I would love the opportunity to have a meal with my Great-great Aunt Freda, and eat her famous tapioca pudding one more time.
Ready to access funding for your innovative initiative? Click here to find out more about CFIN’s funding programs.