BetterBrand, a leading food tech company focused on revolutionizing the carbohydrate sector, has recently concluded its Series A funding round, securing a substantial investment of $6 million. This remarkable feat was accomplished at an impressive pre-money valuation of $170 million, highlighting the company’s strong potential and investor confidence in its future success.
Verso Capital spearheaded the funding round, joined by prominent returning venture capitalists including Gaingels Fund, Seven Seven Six by Alexis Ohanian, and Craft Lane.
The Better Bagel, hailed as the company’s “hero product,” reimagines the conventional carb-heavy bagel into a net carb equivalent of two banana slices. It achieved the remarkable feat of being the leading new product entrant in the natural retail channel throughout 2022, as stated by the company.
In 2021, BetterBrand made its initial launch of The Better Bagel through its website. These protein-rich, low-carb bagels are now widely accessible both online and in over 1,500 stores across the United States. Notable retailers offering The Better Bagel include Whole Foods, Sprouts, Fresh Market, Gelson’s, Bristol Farms, Giant, Harmon’s, Lassen’s, Plum Market, Wild by Nature, FoxTrot, and numerous others.
BetterBrand Founder and CEO, Aimee Yang, said, “We are thrilled about this next chapter for BetterBrand to support our rapid global expansion and continued innovation. This is yet another example of how our mission – proving that the impossible is possible – is demonstrated through practice, and touches not only our product innovation but the massive potential of Better’s power and scale.”
Gaingels Managing Director, Lorenzo Thione, commented, “At Gaingels, we are thoroughly convinced that under her leadership, BetterBrand is poised to redefine our very relationship with carbohydrates, by combining health and taste in one innovative package. BetterBrand’s vision is not just about a product; it’s about a revolution in how we perceive and consume starches, worldwide. We’re excited to support Aimee’s journey in transforming this giant market and look forward to the indelible impact BetterBrand will make.”
With ambitious goals in mind, the company has revealed its intentions to introduce 16 new Stock Keeping Units (SKUs) in the upcoming months. Furthermore, they plan to expand their presence to fresh territories spanning across North America and Europe. Anticipated to hit the market by the end of 2023, these new products will be made readily available to consumers.
