By Lynda Kiernan
Laird Superfood, a producer of all-natural, functional superfood products, announced that it has secured a $10 million investment from Danone Manifesto to support its growth objectives.
This funding follows little more than a year after Laird Superfood raised $32 million through a private funding round led by co-working startup WeWork in January 2019.
Headquartered in Sisters, Oregon, Laird Superfood was co-founded in 2015 by big wave surfer and entrepreneur Laird Hamilton. Born out of his personal regimen, the innovative company has a mission to provide simple, thoughtfully formulated, and clean superfoods to consumers, and has built a presence amid the consumer shift toward a health-conscious lifestyle.
The rapidly growing company, which has declined sharing its revenue data, began selling its products primarily online for the first two years after launching, but today, its efforts have resulted in the company’s best quarter to-date, with record growth in products, innovations, and with both e-commerce and retail partners.
“The growth of Laird Superfood has been a result of our company’s focus on functional, convenient, better-tasting products, while staying authentic to our Co-Founder Laird Hamilton’s uncompromising standards of quality and ingredients,” said Paul Hodge, CEO and co-founder, Laird Superfood.
“After thoughtful consideration and developing a strong relationship with the DMV team, we believe they are the best partner to help us deliver the mission and vision of the company. Danone aims to inspire healthier and more sustainable dietary practices around the world, which is perfectly aligned with the vision of our founders.”
Included in the company’s product portfolio are turmeric and beet-infused coconut waters, ultra-caffeinated coffee, ‘performance mushroom’ blends that the company states harness the power of various fungi, and nutrient-dense creamers for coffee, tea, and smoothie blends enriched with medium chain triglycerides (MCT) – all environmentally conscientious, made with real ingredients, and responsibly tested to suit a range of diets from paleo, to keto, and vegan.
“Through our time with Paul, Laird and the leadership team, we have developed a deep conviction in Laird Superfood’s culture and its understanding of the needs of today’s consumer,” said Laurent Marcel, CEO, Danone Manifesto Ventures.
“We are confident that Laird Superfood’s commitment to a healthy lifestyle and the quality of their functional products and ingredients will continue to appeal to consumers and retailers.”
A Matter of Function
With the growing popularity of alternative diets, startups bringing functional foods and food lines grounded in the “superfood” movement are gaining consumer dollars and investor capital.
The playing field for the category is becoming more and more competitive and crowded, and Danone is not the only global CPG company looking to gain exposure through investment. In January 2017, General Mills’ venture capital unit 301 Inc. returned to lead a $6 million Series D for Rhythm Superfoods, a maker of innovative, organic and non-GMO, plant-based snacks.
The following year, in October 2018, PepsiCo announced its acquisition of Health Warrior, a producer of plant-based snack bars and other offerings including microwavable protein mug muffins and protein powders that include nutrient-dense superfood ingredients.
Most recently, in January of this year PowerPlant Ventures led a $7.5 million round for OWYN (Only What You Need) – a maker of plant-based and functional protein beverages and nutritional products that are free from the top eight allergens, and use a proprietary blend of flax, pea protein, and pumpkin seed as a protein source instead of the widely used whey, eliminating any dairy.
Perhaps one of the most high-profile functional food startups however is Bulletproof 360, which raised a $19 million Series B in May 2017, and a $40 million debt and equity round in August 2018 – both led by CAVU Partners.
Founded in 2013 by bestselling author and self-proclaimed biohacker Dave Asprey, Bulletproof 360 develops food and beverages from a platform of science-based information that can provide consumers with techniques, tools, increased focus, and the enhanced energy for a better life.
Rising among the ranks is Laird Superfood, which plans to use the capital it raised from Danone Manifesto to expand its product offerings to grow its platform of clean, high-quality, plant-based products, and to expand its manufacturing site located in Sisters, Oregon.
“Laird Superfood is a powerful brand with a unique story, and we are excited about our ability to seal this partnership, particularly in the current global environment,” said Marcel. “We believe it will result in future success with a foundation of mutual trust and shared values.”
Co-founder of Laird Superfood, Laird Hamilton added, “I’m so grateful to have such a strong, philosophically aligned partner like DMV on board as we look at developing the next phase of delicious, innovative, plant-based products for all to enjoy.”
– Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.
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