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.
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.
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.