Fledgling US snacks firm Biena Foods has received investment from backers including the founders of Spanx and the jet card service Marquis Jet.
Biena, a maker of protein bean snacks set up in 2012, said the investment would “support continued distribution growth and large-scale marketing efforts”. The company said it has grown “by 800% over the last three years”, although it did not provide details. It added it is “on track to more than double its revenue in 2017”. The new funds will be used to support continued distribution growth and large-scale marketing efforts for the brand, Biena said.
Spanx founder Sara Blakely, Marquis Jet co-founder Jesse Itzler and ESPN sports business analyst Darren Rovell have invested unspecified amounts in Biena. Other investors in the round were Blueberry Ventures, Centerman Capital and New Ground Ventures. Biena did not disclose what size stakes the new investors would receive in the business.
Poorvi Patodia, the company’s founder, said she was “thrilled to have our new investors join the Biena family”. She added: “Their genuine passion for the brand and our mission to help everyday Americans snack healthier makes us the perfect pair. I couldn’t be more excited for this next phase of growth.”
Rovell said: The momentum for plant-based protein snacks is undeniable and the chickpea has come out on top. Our group feels that there isn’t anyone in the category that can touch Biena – its texture and flavour profiles are outstanding.”