Series A Funding and Shipping Update

Dear All,

A lot has happened over the last few months, and we wanted to share a few updates with our partners and customers.

Funding Announcement

We’re happy to announce that we have closed our Series A financing with a $22.5 million round led by Eclipse. Lior Susan from Eclipse will be joining Jason Mendelson and both of us on the board.

Many members of our seed round also participated in this round. We are honored to receive the continued support of Foundry Group, First Round Capital, and Lerer Hippeau Ventures, among others. In addition, we are excited to welcome some new investors to this round, including Sound Ventures, Vaizra Investments, Promus Ventures and Lumia Capital.

This new round will allow us to expand our team, work steadily towards our ship date, and deliver the absolute best product to you. Our team is now 38 strong, and we’re excited for the future!

Shipping Update

Over the past few months we’ve decided to implement two key enhancements to the oven, and as a result we will be shipping to our pre-order customers during the 2016 holiday season.

First, we’ve redesigned the heating architecture, allowing the oven to provide more even heat distribution, better broiling and significantly improving its baking performance.

Second, we’ve decided to work with new manufacturing partners for plastics and cosmetic sheet metal; finding the right manufacturing partners is critical to ensure great product quality. We have now finalized and locked in our supply chain partners, with whom we plan to work all the way through shipping.

We had to make a hard choice between a summer shipment and the best shipment, and we chose to ship the best possible oven. We hope you’ll agree that it was the right call.

Pre-Production Testing

We’ve achieved a couple of major pre-production milestones that we’re excited to share with you.

We’ve received the first 100 ovens from a test factory run, and have been busy testing these units in the June Test Kitchen. So far we’ve perfected roast chicken, rack of lamb and bacon, among other foods.

Most exciting of all, next week every June employee will be taking an oven home to test in their own kitchen! After this phase, we will send units to some pre-order customers for Beta testing.

If you have any questions or feedback, we’d love to hear from you. If you do not wish to wait until the holiday season for your oven, we completely understand. Please email us at support@juneoven.com and we’ll refund your order, no questions asked.

Having said that, everyone at June is excited to ship the oven to all our pre-order customers. We have a talented team, great manufacturing partners and, last but not least, all of your support.

We can’t wait to show you what we’ve built. We think it’s going to be pretty awesome.

Thank you for all your support,

Nikhil & Matt

For more info. please visit our website www.juneoven.com