8 Myles Closes $1.05 Million Seed Round
If you're a fan of mac and cheese, you may want to keep an eye on 8 Myles, a Union Kitchen Accelerator member that just closed a $1.05 million seed round to expand its operations and hire its first-ever full-time employee. Founded by Myles Powell, 8 Myles offers a range of homestyle mac and cheese dishes that have won over the hearts of many customers in the Washington D.C. area.
8 Myles' story began in 2016, when Myles Powell started experimenting with different mac and cheese recipes in his kitchen. He wanted to create a dish that was delicious and comforting. After refining his recipes and getting positive feedback from his friends and family, Powell decided to turn his passion into a business.
That's when Myles joined the Union Kitchen Accelerator, a DC based food business accelerator that provides food entrepreneurs with the resources and support they need to launch and grow their businesses. Union Kitchen helped Powell refine his business model, connect with local distributors and retailers, and expand his customer base.
"Today, 8 Myles sells three flavors of its mac and cheese — homestyle, barbecue and Buffalo — in nearly 1,000 stores nationwide, ranging from national chains such as Target and Whole Foods, to smaller grocers including Balducci's and Streets Market. The company generated $350,000 in revenue in 2022 and Powell said it's on pace to top $1 million this year." as reported in the DCINNO.
The recent $1.05 million seed round will allow 8 Myles to expand its production capabilities, hire additional staff, and continue its growth trajectory. The company also plans to launch new mac and cheese flavors and expand its product line beyond mac and cheese. Powell started raising funds for the seed round in 2021.
"While there is had no lead investor, he did land a $200,000 investment from Virginia Venture Partners, as well as investments from Andreesen Horowitz in Menlo Park, California, early-stage investment nonprofit Bronze Valley in Birmingham, Alabama, and Kompass Ventures in Ohio." states the DCINNO.
The success of 8 Myles is a testament to the power of food entrepreneurship, and the impact that Union Kitchen can have on local businesses.