Superfruit snack brand raises funds to accelerate product innovation and further reduce food waste.
RIND Snacks, maker of functional and sustainable whole fruit snacks, has announced that it closed a $6.1 million Series A capital financing round led by Valor Siren Ventures (VSV), an early-stage investor in sustainability, food, food technology, retail, and retail technology, along with a follow-on investment from Melitas Ventures. Since launching in 2018, RIND has disrupted the dehydrated snack category with its “skin-on superfruit” that maximizes nutrition, minimizes food waste and helps combat childhood hunger through a newly launched school snacks campaign. With the fruit snack market projected to grow at an 8.4 percent CAGR through 2025, this new funding further positions RIND as a purpose-driven leader in a once sleepy category.
As an investor in disruptive, early-stage companies, VSV saw a natural fit with RIND. RIND grew revenues five-fold in 2020 and expects to more than triple sales this year while expanding its retail presence to over 3,000 locations. In addition, RIND has won placement across several leading D2C omni-channel platforms. This has resulted in best-in-class partnerships with the likes of Whole Foods Market, Wegmans, Meijer, CVS, Hungryroot, Imperfect Foods, The Fresh Market, FreshDirect, Giant Eagle, Erewhon, and Foxtrot.