Spudsy, the brand that upcycles imperfect sweet potatoes and turns them into plant-based snacks, will announce the closing of a $3.3 million Series A funding round led by KarpReilly and Stage 1 Fund. This combined with the brand’s Seed Fund brings the total amount of funding to $6.5 million over the last two years.
KarpReilly is known for working with select brands that embody ambition and innovation within the Food and Beverage industry, while Stage 1 Fund supports businesses in high-growth consumer product categories and has helped fund better-for-you brands. This round of funding will accelerate Spudsy’s growth and passion for upcycling by driving trial to new customers through retail expansion and continued support to their retail partners. The brand also plans on utilizing these funds to develop its sales and marketing strategies and build out its Direct To Consumer channel.
Spudsy is on a mission to save the spud which means taking the 150,000,000 pounds of sweet potatoes that traditionally end up in landfills due to minor "flaws" like shape, size, and color and transforming them into an addictive snack for the whole family. The brand is currently on track to save 1,000,000 imperfect sweet potatoes by the end of 2021.