Rind, a whole fruit snacks start-up in New York, has received US$6.1m in funding from a group of investors.
Valor Siren Ventures (VSV), an early-stage investment firm with offices in Chicago, San Francisco and New York, led the Series A round as a new investor, along with a follow-on cash injection from New York-based Melitas Ventures. The split was not revealed in a statement from Rind.
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Rind was founded in 2018 by CEO Matt Weiss and saw revenues increase five-fold last year, and the business aims to triple sales in 2021. The company declined to provide past performance figures when contacted by Just Food.
The company makes fruit snacks complete with the skin, which Rind says “maximises nutrition and minimises food waste”. They are sold into Whole Foods Market, Wegmans and Meijer, along with a host of other small retailers in the US.
Weiss said: “We view the fruit-snack space as ripe for disruption. VSV shares our vision for awakening this category with a keen focus on function and sustainability, helping consumers both snack better and do better through the ‘power of the peel’.
“This capital will help us build an amazing team and accelerate our growth substantially.”
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By GlobalDataJon Shulkin, a partner and fund manager at VSV, added: “In a short period of time, the Rind team has built an exciting and purpose-driven brand. By crafting highly nutritious and functional snacks that help reduce food waste, we believe Rind has the potential to build a great platform that is well aligned to consumer preferences for healthy, sustainable snacks. We look forward to working with Rind to help fuel their growth.”
