US sweet potato snack brand Spudsy has announced that it has raised $3.3 million in a recent Series A funding round as it looks to expand.
The round was led by private investment firms KarpReilly and Stage 1 Fund.
Spudsy takes millions of sweet potatoes that normally end up in landfills, due to minor flaws like shape, size and colour, and transforms them into its range of sweet potato snacks which includes sweet potato fry crisps and sweet potato puffs.
These investments will accelerate its expansion into entering new sales channels and reaching new customers. The brand also plans on “utilizing these funds to develop its sales and marketing strategies and build out its DTC channel”.
Ashley Rogers, CEO of Spudsy, said: “It was really important to our team that we find partners that share the same vision, passion and goals as we do around making snacks that taste good and do good for the environment. KarpReilly and Stage 1 Fund really understand our mission and as a result of their vast network of industry experts we have been able to scale our brand at a more rapid pace.”
The recent funding round brings Spudsy’s total amount to $6.5 million.
This announcement comes after Spudsy was named winner of PepsiCo’s second annual North America Greenhouse programme last year.
© FoodBev Media Ltd 2021
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