The Single Origin Food Company (Sofco), a US plant-based business that markets the vegan honey-alternative brand Un-Honey, has won the backing of investors.
The Wilmington, Delaware. company has raised US$1.1m in a seed funding round led by A’Z Angels, a Silicon Valley-based venture capital firm that invests in disruptive innovation.
Sofco said it will use the money to help with the rollout of Un-Honey. It was launched nationwide in Sprouts Farmers Market and is now being extended to Whole Foods Market, Natural Grocers and Safeway Albertsons stores.
It is made with natural plant-based ingredients and organic flower pollen.
Sofco was founded in 2015 with a focus on ethically-sourced products. It has established long-term partnerships with farmers who share its commitment to sustainable and ethical practices.
Its CEO Belal Elbana said: “Our mission is to fix the food chain. Our single origin model of working collaboratively with our farming partners actively reduces greenhouse gas emissions, increases biodiversity, removes animal use from the food chain and provides full product traceability to our customers to ensure we deliver the highest quality, best value food to market.”
He added: “Our seed round will support the vegan Un-Honey rollout and accelerate product development. Our product road map includes the Vegan Un-Honey + [with added flower pollen], Nada [sugar free] and Gold [with maple]. Longer term we see enormous potential of further ‘Un’ plant-based natural products and + [plus] fortification using organic flower pollen and wild nutrition.”
Amr Abdelaziz, managing partner of A’Z Angels, said: “Our portfolio is primarily technology companies. However, Sofco and vegan Un-Honey are poised to disrupt the food industry with innovation at the heart of everything they do.”
He added: “We see innovative high growth potential for Sofco and we’re excited to partner with them on this journey.”