Hi Springdale family, this summer is about to become more doughy and vegan than ever before as some of the biggest investors, including M13, are rallying behind the latest cookie dough and plant-based products on the market!
I am delighted to share some of the latest CPG deals, including those that have yet to be announced publicly, as well as industry highlights over the past week, within our Springdale family! Please read below:
- VC firm M13 has led the $1 million seed round in enhanced cookie dough brand Deux added with immunity vitamins, collagen, and protein, with additional participations from Erewhon‘s CEO/CFO, KIND Bar‘s VP of Innovations, Walgreens‘ VP, Conagra‘s general manager of snacks division, as well as founders of MVMT, Lemon Perfect, and Liquid IV. The funding was secured in less than a week from a long list of investors!
- Natural cookie dough brand Sweet Loren’s also joined the fray, launching its first edible cookie dough mini cups in June that are dairy-free, non-GMO, Kosher, and nut-free. These new products will come in three flavors: chocolate chunk; birthday cake; and brownie batter.
- Brothers Carter & Courtney Reum-led M13 also recently did a follow-on investment in women-focused wellness brand Rae‘s $9.5 million series A round, led by Beyond Meat and Thrive Market backer Power Plant Partners with additional support from Victress Capital and Able Partners.
- Fundraising in the meat alternatives category continues to accelerate with Reddit founder Alexis Ohanian recently leading the $50 million series B round in plant-based chicken nuggets maker Simulate.
- Other alt protein players are also boosting their portfolios with Singaporean VC firm Good Startup closing its $25 million Good Protein Fund I to support alternative protein companies and to build a sustainable food system.
- Pure play plant-based company LIVEKINDLY Collective is expanding into seaweed products by acquiring The Dutch Weed Burger makes a range of meat analogs using seaweed as the hero ingredient for an undisclosed sum.
- Matt Feldman, who cofounded vegan jerky brand Moku alongside Siddhi Capital’s general partner Melissa Facchina, said they’re in the process of closing a seed round with celebrity endorsements, and will start raising series A next year.
- Ready-to-drink cocktail brand Ohza has raised $4 million to support its newly inked partnerships with some of the largest distributors in the country, including Southern Glazer’s and Breakthru Beverage, as well as double-down on its direct-to-consumer efforts. The round was led by CircleUp Growth Partners with participation from Branch Venture Group, Ruttenberg Gordon Investments, Riverside Ventures, individuals like Elliot Grainge, Founder of 10K Projects and existing investors such as Austin Rosen, Founder of Electric Feel Management.
- CircleUp will also announce its lead in Serenity Kids‘ $7 million series A round in a week or two with additional participation by Wild Ventures, further validating the fact that the baby food sector is gaining momentum and becoming increasingly attractive, which is why Springdale Ventures is proud to partner with Tiny Organics as one of our latest investments!!
- Last but not least, the founder of Caroo [formerly known as Snack Nation] Sean Kelly is launching a new fund dedicated to the CPG space. More info about their fund to come, please stay tuned with our weekly headlines roundup!
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