NEW YORK — SnackMagic, a personalized snack box startup, has raised $15 million in Series A funding led by Craft Ventures with participation from Luxor Capital. The company plans to use the proceeds to build warehouse capacity and logistics support.
Founder Shaunak Amin launched SnackMagic at the onset of the pandemic. His previous venture, Stadium, was a lunch delivery service catering to corporate clients in New York City. As offices closed, Stadium’s sales nosedived. Mr. Amin used its backend systems to launch SnackMagic, which in eight months achieved profitability with a $20 million revenue run rate.
The platform enables consumers to customize the contents of a snack box for gifting, selecting from more than 500 curated items and requiring only the recipient’s email address. SnackMagic can accommodate single-order boxes to batches of more than 1,000. Corporate clients may include company promotional materials in snack boxes or create branded boxes. Toyota, Microsoft, Okta, Fidelity, Amazon, Google, Spotify, Harvard, Stanford and others are among SnackMagic customers.
"Our unique approach to gifting adds a delightful layer of fun as consumers curate their own dream box,” Mr. Amin said. “As our corporate customers and universities are showing us, the use cases for SnackMagic are endless."
The company plans to expand the “build your own box” concept into new product categories including meal kits, alcohol beverages, desserts and non-edible gifts. Brands may apply to sell products through the platform at snackmagic.com/brands.
“Our customer response over the last year has been incredible," Mr. Amin said. "Having the financial support of Craft Ventures will help us execute our vision more quickly and broadly, with the experience of seasoned founders and operators behind us."