US food manufacturer Rich Products has invested in Jesse & Ben’s as part of a $10m funding round at the US “seed-oil-free” french-fry brand.
The investment was made by the US group’s VC unit, Rich Products Ventures.
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In a statement, Jesse & Ben’s said the capital raised through the Series A round will be directed towards expanding its retail listings, investing in its supply chain and hiring staff.
Jesse & Ben’s attracted backers including US investment firm Greycroft and Eric Ryan, the founder of US supplements business Olly. Ryan will join the Jesse & Ben’s board.
Allison and Stephen Ellsworth, the founders of Poppi, the US soda brand sold to PepsiCo last year, also invested.
Jesse Konig, the co-founder and CEO of Jesse & Ben’s, said: “This round gives us the firepower to keep launching products people actually want, to scale our supply chain, and to bring in the best operators in CPG. We couldn’t have asked for a better group of partners to do it with.”
The company, set up in 2024, has sells its products in more than 3,500 stores across the US. Stockists include Whole Foods Market, Sprouts Farmers Market and Target.
Brian Bernstein, the principal at Rich Products Ventures, said: “Jesse and Ben’s is doing exactly what we look for in the future of food: taking a massive, legacy category like frozen fries and completely reinventing it with a clean-label, brand-led approach. Their incredible performance and the way they’ve captured the cultural moment around better-for-you ingredients in under two years is incredible.”
Rich Products manages a portfolio including pizzas, icing and sweet starters, drinks, desserts and bakery products.
In August, it invested in UK cookie-dough producer Doughlicious as part of a $5m funding round.
The group’s previous investments include China-based alternative-chicken manufacturer Haofood and US cell-based seafood business BlueNalu.
