Fast-growing natural snack brand Hippeas has announced a $10 million investment from US venture capital firm CAVU.
CAVU’s co-founder and managing partner, Brett Thomas, will join the company’s board of directors.
“This is a big milestone for our company. I’m thrilled to partner with CAVU given their strong track record in working with entrepreneurs to build iconic brands. Hippeas brings something truly innovative to snacking, which is why the velocity of our growth has been so incredible. Our partnership with CAVU will help us further accelerate that growth so that we become the leading global nutrient-dense snack brand,” said Hippeas CEO and co-founder Livio Bisterzo.
“Hippeas is redefining plant-based snacking with their tasty organic chickpea puffs and unique branding,” added CAVU’s Thomas. “Their product reflects the desires of today’s consumer – to eat delicious, convenient snacks that are healthy and have a positive social impact. We could not be more excited to partner with Livio, Joe and the rest of the talented team to make Hippeas a household name.”
The financing will help Hippeas continue its remarkable growth trajectory. Launched in April 2016 at Natural & Organic Products Europe (London), the brand – which has head quarters in the UK and US – can already be found at 100,000 points of sale and is currently sold in retailers such as Starbucks, Whole Foods, Wegmans, Kroger, Albertsons, Safeway, Boots, Waitrose, Tesco, Sainsbury’s, Amazon.com and Thrive Market. In 2018, HIPPEAS expects to triple its 2017 revenue to $21 million (forecast).
The new growth capital from CAVU comes on the heels of an investment in HIPPEAS earlier this year from Leonardo DiCaprio and Strand Equity Partners.