LOS ANGELES, Sept. 30, 2021 /PRNewswire/ — Spudsy, the brand that upcycles imperfect sweet potatoes and turns them into plant-based, delicious snacks, has announced today the closing of a $3.3 Million funding round led by KarpReilly and Stage 1 Fund. This brings the total amount of funding for the brand to $6.5 Million in just two years. KarpReilly is known for working with companies that embody ambition and innovation within the food and beverage industry, while Stage 1 Fund supports businesses in high-growth consumer product categories. As a pioneer of sweet potato snacks that "Save the Spud", Spudsy’s support from these established partners will almost ensure that the brand meets its goal of saving 1,000,000 imperfect sweet potatoes by the end of 2021.
At Spudsy, upcycling is the name of the game and saving the spud means taking the 150,000,000 pounds of sweet potatoes that generally end up in landfills due to minor ‘flaws’ like shape, size, and color and transforming them into an addictive snack for the whole family. These new funds will accelerate Spudsy‘s growth and passion for upcycling by providing capital to enter new sales channels and reach new customers. The brand also plans on utilizing these funds to develop its sales and marketing strategies and build out its DTC channel. Tripling in sales every year since its inception, Spudsy is primed for growth as a proven hit snack among consumers who are looking to purchase foods that offer great taste while supporting a good cause.
"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," said Ashley Rogers, CEO of Spudsy. "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."
"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," said Billy Logan, Partner at KarpReilly. We are looking forward to helping the brand continue its growth and product innovation.
Spudsy‘s delicious, upcycled snacks are available to purchase in store at select Kroger locations and online at spudsy.com. To follow the brand’s journey to #savethespud, check out their Instagram, @spudsyfoods.
Spudsy was created in 2018 by Southern California based Ashley Rogers, who was inspired by the traditional sweet potato to make good-for-you and good-for-the-world snacks that never compromise on taste, nutrition, or sustainability. The Spudsy team takes taste seriously, reimagining classic foods that consumers know and love by putting a healthy, sustainable twist on them with their Sweet Potato Puffs and Sweet Potato Fries. Spudsy is on a mission to #savethespud and upcycle imperfect sweet potatoes into plant-based, delicious, yummy snacks saving approximately 15,000 ugly spuds with every truckload of finished product. For more information on Spudsy, please visit www.spudsy.com.
Jillian Wong / Sonja Melin