BetterBrand, a food tech company, has secured $6 million in Series A funding, propelling its mission to revolutionize the refined carb market.
The investment, led by VERSO Capital and backed by prominent venture capitalists and notable individuals, including Gaingels Fund and Cruise Founder and CEO Kyle Vogt, highlights the significant growth, innovative technology, and market potential of BetterBrand.
This funding achievement places the food tech company among the select few startups founded by solo female entrepreneurs to raise over $5 million in a Series A round and achieve an impressive valuation.
BetterBrand, the consumer food tech startup behind The Better Bagel, landed $6m in Series A funding at a pre-money valuation of $170m.
VERSO Capital led the round with participation from @GaingelsVC, @sevensevensix, Craft Lane, and a number of angels.https://t.co/EEK2GVXrHs pic.twitter.com/bJTeMjfdg5
— CPG WIRE (@cpgwire) June 21, 2023
Since its establishment in 2021, BetterBrand has been at the forefront of utilizing its proprietary “grain-changing” technology to create a line of better-for-you baked goods.
By combining non-GMO and clean-label ingredients, the company has reinvented the carb-heavy bagel with its flagship product, “The Better Bagel.” This revolutionary bagel offers the net carb equivalent of two banana slices while providing 250 percent more protein, 90 percent fewer carbs, and no added sugar.
The food tech company’s commitment to providing healthier alternatives has resonated with consumers, resulting in rapid growth and widespread adoption of its products.
Impressive Growth and Expansion
BetterBrand’s recent Series A funding success comes on the heels of its remarkable year-over-year growth, boasting an impressive 800 percent increase from 2021 to 2022. The company’s strong momentum is set to continue, with projections indicating similar growth from 2022 to 2023.
With its products already available in over 1,000 stores across the United States, including popular retailers such as Whole Foods and Sprouts, the food tech company is looking to expand.
The food tech company has plans to triple its product offering by launching 16 new products by the end of this year, catering to the diverse preferences of health-conscious consumers.
Founder and CEO Aimee Yang expressed her enthusiasm regarding the funding round. She highlighted the company’s mission to challenge the impossible and emphasized the potential of BetterBrand’s innovative technology and scale.
Yang’s strategic leadership has positioned BetterBrand as a disruptive force in the $12 trillion refined carb market, gaining attention from investors and consumers alike.
Global Expansion and Continued Innovation
With the additional funding, BetterBrand is well-positioned to accelerate its global expansion plans and enter new markets in North America and Europe.
Led by acclaimed Michelin-starred baker Matthew McDonald, the food tech company aims to introduce 16 new products that combine timeless flavors with its groundbreaking Grain-changing Technology™.
This innovative approach allows BetterBrand to transform conventional carb-heavy foods into healthier alternatives without compromising taste or quality.
The company’s ability to address consumer demands for healthier options while delivering exceptional taste and quality sets it apart in the market. As BetterBrand continues to gain traction and dominate the carb space, its commitment to innovation and catering to consumer preferences positions it for further growth and market dominance.
