Some products seem relatively disruption-proof. Their designs and standards so time-tested that there doesn't seem to be much room for the next thing.
Cookware is not one of those things. Case-in-point, Austin-based Made In, which sells pots, pans and other home cookwares direct to consumers, has developed a business in two short years that now has a multi-million dollar run rate and landed a spot as one of TIME Magazine's best inventions of the year.
On Wednesday, the company said it has closed a $5 million seed funding round. The investment was led by Brian Spaly, founder of Bonobos and Trunk Club, and Ezra Galston of Starting Line Ventures.
Made In was founded by Jake Kalick and Chip Malt with an aim to provide professional-level cookware to home chefs at a lower cost than competitors.
"Made In is a first mover in the direct-to-consumer space targeting cookware," Spaly said in a news release. "There have been many branded success stories based on this model, from ballet flats to eyeglasses, and Made In is poised to thrive in the kitchen space."
As part of the deal, Spaly will join Made In's board of directors. Additional investors in the new round include The Alinea Group co-founders Grant Achatz and Nick Kokonas; Chef Tom Douglas; Barry Sternlicht, founder of Starwood Capital; and The Labora Group. They join original investor KarpReilly and Chef Tom Colicchio, who is also an advisory board member.
Made In has raised a total of $8.3 million so far, and its cookwares have become so popular and publicized that the company has a waitlist for some of its products and release dates listed for others.
Other investors named include Ben McKean, founder of Hungry Root; Paul Hedrick, founder of Tecovas; Josh Deckard, former assistant press secretary of George W. Bush; Ed Wilson, former president of Tribune Broadcasting; Jim Moroney; 30/30 Ventures; Fabulous Brands; Social Start Capital and Finn Capital.
