US plant-based food company, Urban Remedy, has closed an $18 million Series D fundraising round, as it looks to increase its reach nationwide.
Based in California, Urban Remedy offers certified-organic food and beverage products, including ready-to-eat meals, snacks, nut milks and cold-pressed juices. The company’s entire portfolio is said to be Non-GMO Project Verified, plant-based and gluten free.
Urban Remedy was founded in 2009 and its products are now available online, in Urban Remedy shops and at its 270 grocery kiosks in 21 states across the US.
The Series D round was led by Colorado-based investment firm Manna Tree, with participation from existing investors Builders Fund and Obvious Ventures.
Urban Remedy will use the new funds to increase consumer awareness through digital marketing investments, make key hires and introduce new manufacturing efficiencies.
“Despite Covid-19 challenges, Urban Remedy doubled its kiosk locations during 2020, while ramping up its online platform,” said Pam Shepherd, managing director, Manna Tree.
“Consumers are continuing to realise that food is medicine, and the impact nutritious food has to their overall health.
“Consumers recognise Urban Remedy as a leader in providing highly nutritious and convenient product solutions. They never cut corners on ingredients and are wholly committed to the future of the planet and human health.”
Paul Coletta, CEO of Urban Remedy, added: “When we met the team at Manna Tree, we immediately recognised our synergies. Their shared commitment to giving consumers better access to nutrient-dense, clean food is exactly what we were looking for in a partner.”
Urban Remedy previously secured investment from General Mills’ venture capital arm 301 Inc, as part of a $17 million Series B fundraising round.
© FoodBev Media Ltd 2021
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