New Frontier Foods nets USD1.7 million in first seed funding
Seaweed chip maker New Frontier Foods Inc. raised USD1.7 million in its first seed funding round. The food company was backed by former and present executives at Starbucks, Hershey's (Scharffen Berger), Facebook, ConAgra, Pepsico, and Boulder Canyon Natural Foods. This was according to a report published by Fin SMEs.
In addition to its main backers, the food firm also raised more funds using CircleUp. CircleUp is an online platform that links investors to consumer brands, the report stated.
New Frontier Foods is a company based in Burlingame, California. The firm was founded by Mike Shim, Michael Buckley, and Robert Mock. The company manufactures seaweed chips made out of sustainably harvested seaweed, said the report.
The food company's flagship brand is Ocean's "Halo The Seaweed Chip". This baked product is rich in vitamins and minerals. The brand prides itself for having no trans-isomer fatty acids (trans fats), monosodium glutamate (MSG), Genetically Modified Organisms (GMOs), and other artificial ingredients. Ocean's Halo Seaweed Chips is available at online and at selected retailers in San Francisco. New Frontier Foods will be launching this product in the next few months, Fin SMEs reported.