District Ventures and EDC Invest in Intestine-Well being Innovators Fody Food items
Expense to gas expansion for Montreal-based mostly digestive wellness brand
TORONTO, ON, Dec. 8, 2020 /CNW/ – District Ventures Money (“District Ventures“) and Export Progress Canada (“EDC“) now introduced the closing of an fairness investment decision of $8.5 million in Fody Food items Co. (“Fody“). The round was led with $4 million from District Ventures and integrated $3 million from EDC. Present buyers like New Acres Capital and management also participated in the spherical. TD Securities served in an advisory capability to the enterprise.
Fody is a Montreal-dependent corporation, producing a huge vary of delightful merchandise uniquely formulated with cautiously sourced ingredients that boost digestive wellness.
From pasta sauces and salad dressings, to salsas and snack bars, Fody’s whole item line is absolutely free from any of the triggers typically related with digestive soreness (this sort of as onions, garlic, lactose, or gluten), and is Monash-certified Lower Fodmap, as properly as qualified vegan, gluten-cost-free and non-GMO verified.
“We love progressive solutions in the meals area – particularly ones that not only style good but increase a consumer’s eating plan via a organic ingredient foundation,” reported Arlene Dickinson, Normal Associate of District Ventures Funds. “Fody, a B Corp qualified business, is led by an seasoned entrepreneur, focused on delivering clean, intestine-healthier foods to aid the tens of millions of folks suffering from digestive concerns. We’re enthusiastic to spend in them and see their business enterprise keep on to improve in North The united states and beyond.”
Established in 2016 by Steven J. Singer, Fody has substantially grown its distribution and delivers products and solutions on the web and in 7,000+ outlets across North The united states. No stranger to producing items for customers with dietary limitations, Singer is the co-founder of Glutino – just one of the most significant gluten-free manufacturers in the market. In addition to food items products and solutions, Fody gives instructional assets and recipes in guidance of IBS sufferers, and men and women with digestive distress by means of their web-site and social media channels. The expenditure will enable Fody to continue distribution progress and promoting initiatives throughout North The us.
“At Fody, we want men and women everywhere to be able to appreciate all the food items they like without the get worried of digestive distress,” reported Steven J. Singer, Founder and CEO of Fody Food items. “With the remarkable assist of our new traders, Fody will be able to accelerate our momentum and grow on our profits and marketing routines.”
Financial investment from EDC arrived via their not long ago introduced Matching Plan – which matches expense bucks for modest and medium sized firms that export their products from Canada.
“Fody is at the forefront of the speedily evolving digestive wellness business, and the firm has demonstrated its ability to develop one of a kind higher benefit merchandise for a rising market,” reported Carl Burlock, Executive Vice-President and Chief Business enterprise Officer at EDC. “EDC is very pleased to give further more support to this modern Canadian corporation via our investment decision matching application, and we appear ahead to seeing them expand internationally.”
About District Ventures Capital
District Ventures Funds is a venture money fund investing in impressive companies in the foodstuff & beverage and health & wellness sectors. The fund is led by Standard Lover, Arlene Dickinson. District Ventures is the primary ecosystem in Canada that focuses on the CPG room and provides funds, promoting assistance, programming, and commercialization as assistance to the providers it invests in.
For much more data, go to www.districtventurescapital.com.
About Export Improvement Canada
Export Advancement Canada (EDC) is a financial Crown company dedicated to encouraging Canadian corporations of all dimensions realize success on the world phase. As global risk industry experts, we equip Canadian companies with the tools they have to have – the trade knowledge, funding options, fairness, insurance policies, and connections – to mature their company with self-confidence. Underlying all our assistance is a commitment to sustainable and liable business enterprise. To help Canadian businesses going through severe monetary worries introduced on by the global reaction to COVID-19, the Govt of Canada has expanded EDC’s domestic abilities right until December 31, 2021. This broader mandate will help EDC to broaden its assist to businesses centered domestically.
Source District Ventures Cash
