Blue Stripes Raises $20M to Create a Sustainable Future for the Cacao Industry
Investors in the upcycled cacao brand revolutionizing the cacao supply chain include Zintinus, The Hershey Company, Whole Foods Market, and other institutional investors with additional support from Celebrity Chef, Nick DiGiovanni, who joins as a Brand Ambassador
NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Blue Stripes, the whole cacao brand on a mission to create a more ecologically and economically sustainable cocoa supply chain, closes their Series B round at $20 million led by Zintinus, The Hershey Company and Whole Foods Market, among others. Blue Stripes' line of delicious, environmentally conscious, and nutrient dense products includes: Cacao Water, Whole Cacao Chocolate Bars, Whole Cacao Granola, Whole Cacao Trail Mix, Chocolate Covered Cacao Beans, and Dried Cacao Fruit. Blue Stripes' innovative ingredient and production approach reduces cacao fruit waste, increases the value of the cacao fruit, and creates a meaningful income increase for cocoa farmers by utilizing 70% of the fruit that is typically thrown away in the traditional chocolate making process.
Blue Stripes was founded in 2018 by Oded Brenner, who also founded the global chocolate retail chain Max Brenner, and who has been referred to as a real life Willy Wonka. Oded and Co-Founder Aviv Schwietzer, are on a mission to revolutionize the chocolate industry with their innovative and sustainable whole cacao approach. The brand aims to create an entirely new category within the chocolate space by unlocking the untapped potential of the cacao superfruit (antioxidants, minerals, fiber, etc.)
"For the last two decades of my career I focused on showing people the whimsical and romantic side of chocolate," says Blue Stripes Founder, Oded Brenner. "In this next chapter, I am on a mission to change what happens behind the scenes of the cacao industry - reducing the negative cacao industry impact on the environment, improving the economic value cacao farmers receive for their work, and sharing the incredible functional benefits that the cacao superfruit has with the world."
The Series B capital raise's lead investor, Zintinus, supports brands that develop innovative technologies in the food industry while adhering to a high standard of environmental responsibility, social equity, and strong governance practices. Zintinus' investment support was bolstered with investment from The Hershey Company, one of the largest chocolate manufacturers in the world, Whole Foods Market, the leading natural and organic foods retailer, as well as additional investors including DMG Ventures, Hamilton Lane, and Praesidium. The investment proceeds will be used to continue to advance the company's whole cacao process technologies, develop new products, increase distribution, and raise consumer awareness around the nutritional benefits of the cacao superfruit for the chocolate industry as a whole.
To uplift the brand's mission to create a more sustainable future for the chocolate industry, Blue Stripes has appointed Nick DiGiovanni, celebrity chef, entertainer and digital megastar with over 33 million followers across YouTube, TikTok, and Instagram, as a Brand Ambassador. In this role, Nick will leverage his social platform to educate consumers about the cacao fruit including its various use cases and functional benefits.
"I've known Oded for many years and have always described him to others as the 'modern day Willy Wonka,'" says Nick DiGiovanni. "Over the years I've learned so much about the cacao industry, so I'm excited to be a part of the Blue Stripes team to show the world that cacao is so much more than just chocolate."
Blue Stripes is available nationally through their website ( www.bluestripes.com ), and with retailers including Whole Foods Market, Fresh Market, Sprouts, and Amazon, as well as in small premium grocers like Happier Grocery in NYC.
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SOURCE Blue Stripes
