Plant-based frozen smoothie producer Bright Greens has raised a seed round led by Kellogg Company’s venture capital fund eighteen94 capital.
Blu Venture Investors, an early stage investment group based in the Mid-Atlantic, also participated in the round.
"We are excited to partner with eighteen94 and Blu to build our company," said Brian Mitchell, CEO and Founder, Bright Greens. "The deep domain expertise and ability to help Bright Greens commercially was a true differentiator among the investors we met."
Bright Greens was founded in 2015 by Brian Mitchell, who started the company in the Washington DC-based food incubator Union Kitchen. Mitchell indicated the capital infusion will be used for further product development, sales and marketing, and expanding the Bright Greens team.
"Bright Greens is reimagining the smoothie, making it more convenient for consumers to get their fruits and vegetables," said Simon Burton, managing director of eighteen94 capital. "We are very impressed with the innovative form factor Brian developed, and we see enormous potential for Bright Greens given the demand for convenience in our culture."
"Our Bright Greens smoothies are a quick and delicious way of getting healthy fruits and vegetables without added sugar or preservatives," Mitchell added. "The smoothies have a short list of natural ingredients making them a nutritious and delicious way to start your day."
Bright Greens offers frozen smoothie cubes in Bright Blueberry, Mintergreen, Peaches & Green and Pineapolis flavors. Consumers add hot water to the frozen cubes and shake for a cold, fresh, fast, convenient and nutritious green smoothie. Bright Greens' products can be found in select Whole Foods markets and more than 1,000 Kroger stores.
eighteen94 capital was launched in June 2016 to invest in companies pursuing next-generation food innovation, bolstering Kellogg Company's access to cutting-edge ideas and trends.
The investment focus includes start-up businesses pioneering new ingredients, foods, packaging and enabling technology. As part of the funding, Burton is joining Bright Greens' board of directors and will help Bright Greens tap into Kellogg's expertise in the food industry.
The funding in Bright Greens closed through CircleUp, the platform providing capital and resources to early-stage consumer brands, and opportunities for leading investors.
