Banza, the US maker of pasta from chickpeas, has closed a round of fundraising from investors in a bid to up production and work on new products.
The Detroit-based business, which launched its namesake brand three years ago, has secured US$7.5m in financing, led by local private-equity firm Beechwood Capital.
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Banza said Boston-based Beechwood Capital had “significant experience in investing in fast growing consumer brands”, pointing to its backing for companies including US baking mix business Foodstirs, skincare brand Tatcha and beauty retailer Miniluxe.
Another US private-equity firm, Strand Equity Partners, which recently invested in local chickpea snacks firm Hippeas, also took part in the Banza fundraising round.
Banza described Beechwood Capital as “the majority investor in this round” but refused to be drawn on the make-up of its shareholder base in the wake of the new fundraising.
“The financing will allow Banza to increase its production capacity, expedite the creation and development of new products, and support team growth,” Banza said.
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By GlobalDataThe company was set up by brothers Brian and Scott Rudolph. The firm claims its pasta contains “double the protein, four times the fiber and nearly half the net carbs of traditional pasta”.
