Icelandic sugar-free brand Good Good has raised $3 million in a Series A funding round, to strengthen its position in the US market.
Founded in 2015, Good Good specialises in developing and producing food products without added sugar, using sweeteners stevia and erythritol instead.
Its portfolio includes jams, chocolate hazelnut spread, syrup and stevia drops, and offers options for adherents of keto and plant-based diets, as well as diabetic-friendly products.
The new funding, which came from individual and angel investors, will be used to strengthen the brand’s marketing in the US, as well as to support new product development.
Capital will also be used to expand Good Good’s distribution footprint in the country, which currently spans 1,800 stores nationwide.
The company’s operational HQ is in Iceland, while manufacturing takes place in the Netherlands and Belgium and products are distributed through warehouses in Virginia, US and Holland.
“This round of funding will be used to support Good Good’s growth as we expand our presence in the US,” said Gardar Stefansson, co-founder and CEO of Good Good.
“Our keto jams are currently the most sold keto jam in the United States; however, we still see a great deal of untapped potential for our brand in the market.
“Now, we will have the capacity to hire additional team members to add expertise in US distribution and bolster our marketing efforts for continued growth within the US.”
© FoodBev Media Ltd 2020
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