Spudsy, a fledgling US snacks business making sweet-potato puffs from upcycled ingredients, has been awarded a US$100,000 grant from PepsiCo through the Lay’s giant’s accelerator programme.
California-based Spudsy, set up in 2017, was one of ten participants in the second edition of PepsiCo’s Greenhouse accelerator in North America.
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Alongside advice from PepsiCo executives, each of the start-ups received a $20,000 grant. Spudsy has been handed a further $100,000.
“Our mentors really supported us in expanding our subscription business and overall strategy for expansion,” Spudsy founder Ashley Rogers said. “They also helped us navigate the changing consumer landscape during a tricky time. We’re ecstatic to be able to use the $100,000 grant to continue to grow our internal team and support our key retailers.”
Spudsy upcycles sweet potatoes set for landfill to create the sweet-potato flour used in its snacks. Grocers including Food Lion and Wegmans stock the firm’s snacks.
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Speaking to just-food, PepsiCo underlined the $100,000 award “is a grant, not an indication of an equity stake”, adding the company does not disclose the investments it makes through its PepsiCo Ventures arm, a business unit separate to the Greenhouse accelerator.
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By GlobalDataPepsiCo launched Greenhouse in North America in 2018. It was an extension to a European initiative launched a year earlier.
