Food ingredients supplier AGT Foods has invested in Canadian pasta company Chickapea.
AGT Foods led a C$4.3m ($3.1m) funding round in Chickapea that included FCC Capital, the investment arm of Farm Credit Canada.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Existing backer InvestEco also took part, extending an involvement in the pasta alternative firm that began in 2019.
Ontario-based Chickapea said the proceeds will be directed toward marketing, product development and widening its distribution across North America.
Founded in 2015 by Shelby Taylor, the brand sells organic dried pasta made from chickpeas and yellow peas in formats including penne, spaghetti, lasagne, spirals and elbows.
Taylor said the company was “thrilled” to have received the investment from AGT Foods, FCC, and InvestEco.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataShe added: “Their partnership will be instrumental as we continue to scale our brand, meeting growing consumer demand, expanding our retail presence and exploring new channels.”
As part of the transaction, Murad Al-Katib, president and CEO of AGT Foods, has joined Chickapea’s board of directors.
Al-Katib said Chickapea has “immense potential”, adding: “AGT is excited to partner with Chickapea, and I am eager to bring our expertise and resources to help scale this incredible brand in the North American market.”
Chickapea said the investment follows a period of “major momentum” for the brand.
It has achieved “velocity increases of 25-50% across retail channels in both Canada and the US this year”, the group added.
In 2021, Chickapea announced a Series C round worth C$9.3m, which also aimed to support expansion in North America.
The company graduated from the District Ventures Capital (DVC) accelerator in Toronto, with DVC leading the round, which also included Export Development Canada.
Just Food has asked Chickapea to confirm how much investment the company has now raised to date.
