Dairy-free creamer brand Nutpods has secured an investment from private equity firm VMG Partners as part of a new funding round, which also included current investors CircleUp Growth Partners and the Sidekick Fund.
Based in Seattle, Washington, Nutpods offers ten creamer flavours, including dark chocolate orange, vanilla lemon, and pumpkin spice.
The brand said its success is driven in part by its unconventional route to market: starting with direct to consumer prior to expanding into traditional grocery sales.
“It’s all about meeting unmet needs for our consumers,” said founder and CEO Madeline Haydon. “We may have started as a darkhorse brand in a mature category, but our fans have driven our growth through reviews, recommendations and their loyalty, allowing us to expand from three to ten flavours and from D2C to over 15,000 retail accounts. We can’t wait to introduce Nutpods to more people.”
She added: “We couldn’t be more excited about this new stage of growth for our company. VMG is the perfect partner for Nutpods given their commitment to supporting first-time entrepreneurs, successfully investing in women-owned businesses and their track record of helping brands scale from ideas into icons.”
Last year, VMG Partners invested in bone broth protein supplement manufacturer Ancient Nutrition and British organic baby food maker Little Freddie.
It has also set up a $100 million fund with Hillhouse Capital that is targeting consumer brands with a global reach and “differentiated” offerings.
Speaking with FoodBev at the Food & Beverage Innovation Forum in China earlier this year, VMG founding partner and managing director Kara Cissell-Roell said: “We’re looking for emerging brands that have a base of passionate consumers, that are driven by founders that are mission-oriented and looking to do something for the world that hasn’t been done before.”
© FoodBev Media Ltd 2019