Spudsy, a food startup based in Los Angeles, has raised $3.3 million in series A funding to expand its presence in chip aisles across the US.
The round brings the total funding raised by the startup to $6.5 million and was co-led by KarpReilly and Stage 1 Fund, with the former specializing in investing in startups in the food and beverage industry. Billy Logan, Partner at KarpReilly, said about the firm’s decision to participate in the funding round:
“Spudsy is one of the most exciting emerging food brands on the market and we are thrilled to have this opportunity to be a partner to them.”
Founded in 2018 with the mission to provide healthy and tasty snacks based on traditional sweet potato. The entrepreneur envisioned a line of snacks that would not compromise taste or nutrition, while also helping fight waste via its #savethespud campaign, which saves approximately 15 thousand spuds per truckload that would otherwise go to waste due to appearance flaws. Ashley Rogers, Spudsy’s Founder and CEO, said about how the round will help the startup fulfill its mission:
“It was really important to our team that we find partners that share the same vision, passion and goals as we do around making snacks that taste good and do good for the environment. KarpReilly and Stage 1 Fund really understand our mission and as a result of their vast network of industry experts we have been able to scale our brand at a more rapid pace.”
Over the years since its launch, Spudsy has seen its sales triple every year as the demand for its products grows. The new capital will allow the startup to sustain this growth by expanding its sales channel to reach new customers, as well as to develop new sales and marketing strategies.
With consumers not only focusing on taste any longer but also on the impact and origin of the products they consume, Spudsy is offering an alternative that is both healthy and sustainable. Spud wasting has been a major source of food waste in the United States over the past year, with outlets like Reuters reporting that farmers have seen themselves giving away thousands of pounds to avoid their waste.