Outstanding Foods, a plant-based snacks business in the US behind the PigOut brand, has attracted new finance after it received an undisclosed investment from rapper Snoop Dogg earlier in the year.
New York-based private-equity fund SternAegis Ventures led the US$5m round, with participation from another celebrity, L.A. Lakers basketball player JaVale McGee.
Outstanding Foods, which was formed in 2015 by former Hampton Creek co-founder and Beyond Meat product developer Dave Anderson, along with chief executive Bill Glaser, will invest the funds in research and development, marketing and to expand into retail, according to a statement.
The company recently launched its plant-based PigOut Pigless Pork Rinds, claimed to have the same protein content as beef, which are available from Outstanding Foods online. It is also planning to roll out further new products aided by the funding in line with its gluten, soy, GMO and cholesterol-free credentials.
Glaser said: “This funding provides us with the opportunity to reach more consumers and give them more ways to snack on great tasting, healthy, plant-based snacks.”
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Last summer, the company, then known as PigOut, received an undisclosed investment from Katjesgreenfood, the venture fund of German confectionery group Katjes, followed in April this year by Snoop Dogg, whose real name is Calvin Cordozar Broadus Jr.