The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Plant-based snack brand Outstanding Foods has raised $10 million in a Series A financing led by SternAegis Ventures, as it prepares for a 2021 retail expansion.

With the capital, Outstanding Foods is looking to expand both its retail footprint and direct-to-consumer (DTC) marketing efforts nationally and globally.

The funding comes after Outstanding Foods raised $5 million in a financing roundlast year, also led by SternAegis Ventures, which the US company said would be used to expand its portfolio.

The brand is the manufacturer of PigOut Pigless Pork Rinds and most recently TakeOut Meal-In-A-Bag Puffs – both free-from gluten, soy and GMOs – which are currently sold in retailers such as Walmart, Kroger and Whole Foods.

In addition, Outstanding will also use the capital to strengthen its research and development team to accelerate the development of new plant-based, better-for-you products.

Other investors in the round include Kenneth Harris, former board chairman of Enjoy Life Foods, and Javier Valéz-Bautista, former CEO of Mission Foods and current CEO of El Dorado Foods.

"We've experienced explosive growth in 2020 in both our DTC and retailer channels, and feedback on our Addictively Delicious and nutritious products has been outstandingly positive," said Bill Glaser, CEO and co-founder of Outstanding Foods.

He added: "This Series A financing will enable us to accelerate our mission of making it easier for anyone to eat healthier plant-based foods. Look for more Outstanding Foods tasty innovative products to come."

Cassel Shapiro, CFA and partner at SternAegis Ventures, said: "We are committed to supporting the Outstanding Foods team in its mission to develop a plant-based snack products global brand.

"Outstanding Foods is led by passionate serial entrepreneurs seeking to push the boundaries of what's possible with plant-based ingredients."