US frozen smoothie start-up Bright Greens has secured $2 million in seed funding to develop its product range, with Kellogg’s leading the investment.
The cereal giant’s investment arm Eighteen94 (1894) sealed the deal, with support from Blu Venture Investors. The capital will be used expand the Bright Greens team, further product development and boost sales and marketing.
Bright Greens was founded in 2015 in Washington and offers frozen smoothie cubes in four flavours. Consumers simply add hot water to them and shake to make the final product.
Founder and CEO Brian Mitchell said: “Our Bright Greens smoothies are a quick and delicious way of getting healthy fruits and vegetables without added sugar or preservatives. The smoothies have a short list of natural ingredients making them a nutritious and delicious way to start your day.
“We are excited to partner with 1894 and Blu to build our company. The deep domain expertise and ability to help Bright Greens commercially was a true differentiator among the investors we met.”
1894 was launched last year to invest in companies pursuing next-generation food innovation, bolstering Kellogg Company’s access to cutting-edge trends.
In total, 1894 intends to invest approximately $100 million, playing an important role in achieving Kellogg’s 2020 strategic growth objectives.
Managing director of 1894 Simon Burton said: “Bright Greens is re imagining the smoothie, making it more convenient for consumers to get their fruits and vegetables.
“We are very impressed with the innovative form factor Brian developed, and we see enormous potential for Bright Greens given the demand for convenience in our culture.”
Earlier this year, Kellogg’s expanded its North America product line with the launch of 50 new breakfast cereals, snacks and frozen foods.
© FoodBev Media Ltd 2022
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