Beanfields closes Series B round with leading industry investors
Plant-based bean chip brand set to further accelerate growth
Beanfields, the Los Angeles-based brand of better-for-you chips that are wholesome, satisfying and positively addicting, announced the closing of their Series B capital financing round. Investors coming in this round include NRV, Western TechnologyInvestment, and lead investor PowerPlant Ventures. After a record-breaking 2018 and triumphant year for the brand, Beanfields will use this funding to support the launch of their new innovation items, deepen revenue in the existing SKUs, build team infrastructure, and increase operation runs that give the brand max optionality by the end of 2020.
“Arnulfo (CEO), Jim (CFO/COO) and the team have delivered excellent results and now, as they roll out their delicious innovation, we believe more than ever that Beanfields will be one of the next great snack brands," shared managing director of PowerPlant Ventures, Mark Rampolla. Reflecting on the Series B round, Beanfields CEO Arnulfo Ventura added, “We are so honored to have had a flood of interest in this round leading to a meaningful oversubscription, which is a testament to the love Beanfields is receiving from consumers, retailers and investors alike.”