Confectionery multinational Mondelēz International is taking a minority investment in Uplift Food, a US-based early-stage start-up focusing on prebiotic functional foods.
This is the first venture investment the company is making as part of SnackFutures, the company’s innovation and venture hub aimed at “unlocking snacking growth opportunities around the world”.
SnackFutures sets out to bring three growth drivers under one umbrella to accelerate innovation: invention of new brands and businesses; reinvention of small-scale brands with large-scale potential, and venture investments with start-up entrepreneurs.
“As the global snacking leader, we’re on a clear mission to lead the future of snacking by providing the right snack, for the right moment, made the right way,” said Tim Cofer, executive vice president and chief growth officer of Mondelēz International. “Together with Uplift Food, we have a unique opportunity to disrupt the functional food category by delivering ‘snackable’ products focusing on gut health – something that does not exist today.”
Mondelēz says the functional snacking is a strategic area for SnackFutures. The SnackFutures team will work with Uplift Food to make gut health more understandable, accessible, and enjoyable through new forms and flavours. Beyond the financial investment, SnackFutures will also provide strategic support in areas like marketing, distribution, R&D and sourcing.
“Partnering with SnackFutures will undeniably strengthen Uplift Food’s capacity to live our mission of seeing everyone benefit from the consumption of gut healthy foods. The SnackFutures team provides the industry experience needed to make our dream a reality, and the continued support they show us to hold onto our nutritional and ingredient integrity allows us to remain true to our core values and grow,” said Kara Landau, Dietitian and Founder Uplift Food (pictured).