A little over a year after HelloFresh called off its IPO, the Berlin-based meal delivery service has reportedly raised another $88 million in funding, leaving investors to wonder if plans to go public may be revived. HelloFresh is one of many subscription-based recipe delivery services—think Blue Apron and Plated—to gain popularity with consumers and VC backers alike over the past few years.
This round brings the five-year-old company’s total VC funding to around $360 million, much of which has come from German startup investor Rocket Internet. HelloFresh brought in more than $200 million in 2015, including an $85 million financing last September that increased the company’s valuation to a reported $2.9 billion. Investor skepticism over its valuation at the time was one reason an IPO didn’t go forward, according to reports. Now, German news site Gründerszene is reporting HelloFresh’s latest funding may be a step toward an upcoming float.