Her firm is an investor in Magic Spoon, and she sees Immi reinventing ramen and Asian cuisine, saying “the Kevins as a founder group are highly moldable, high-achieving and want to surround themselves with best-in-class people.” Most of it is driven by consumers that want transparency in the supply chain, cleaner ingredients and authentic brands.Ĭonsumer packaged goods brands that are reinventing themselves already have successful product lines, but few brands are taking a look at certain categories she said are ripe for reinvention, like cereal. The natural or better-for-you foods industry has changed “dramatically” in the last decade, Facchina said. The second version launching looks exactly like the traditional brick pack and now has adult flavors that attach to a different culinary pallet.” “It costs a lot of money to innovate in this industry, and it is exciting for myself and family to have something that we can grab and go. Melissa Facchina, co-founder and general partner at Siddhi Capital, said her firm invests in food and beverage brands and its operating arm serves as an operating partner to the Immi team. Siddhi Capital led the round and was joined by Palm Tree Crew, Constellation Capital, Animal Capital, Pear Ventures, Collaborative Fund and a group of individuals, including Patrick Schwarzenegger, Kat Cole and Nik Sharma, as well as executives from Thrive Market, Caviar, Daring Foods, Madhappy, Twitch, Kettle
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