BetterBrand, a prominent food tech company renowned for its product “The Better Bagel,” has successfully concluded a Series A funding round, securing $6 million in capital.
This achievement has led to a pre-money valuation of the company reaching a significant milestone of over $170 million.
According to TechCrunch, Crunchbase data indicates that BetterBrand’s accomplishment places its founder, Aimee Yang, among a select group of only 150 solo female founders who have raised over $5 million in Series A funding from institutional investors while achieving such a remarkable valuation.
Yang attributes the substantial valuation to a combination of factors, including the company’s remarkable growth, product differentiation, innovative technology, and its potential to capture a substantial share of the largely untapped $10 trillion market.
Established in 2021, BetterBrand stands out in the industry with its proprietary “grain-changing” technology, which enables the creation of healthier baked goods using non-GMO and clean label ingredients. The flagship product, “The Better Bagel,” offers a carb equivalent of two banana slices, 250% more protein, 90% fewer carbs, and no added sugar. The company has expanded its product line to include various bagel flavors and plans to introduce 16 new products by the end of the year, tripling its current offerings.
BetterBrand has witnessed significant success with its products, starting as a direct-to-consumer business and expanding to over 1,000 stores across the United States, including major retailers like Whole Foods. The company experienced over 800% growth between 2021 and 2022 and achieved gross sales exceeding $1 million at Whole Foods within its first five months on the shelves.
The recently concluded Series A funding round brings BetterBrand’s total venture-backed funding to nearly $10 million. The additional funding will support BetterBrand’s expansion into new markets in North America and Europe, as well as drive innovation and product development.
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