Hippeas snack brand has secured $10 million capital investment to expand the company’s growth efforts.
The organic chickpea snack maker is looking to build upon sales momentum with support from CAVU Venture Parteners.
Since its launch in 2016, the Hippea brand has become the fastest growing free-from savoury snack in the UK and is available in more than 10,000 stockists.
Brett Thomas, co-founder and managing partner at CAVU, said: “Hippeas is redefining plant-based snacking with their tasty organic chickpea puffs and unique branding.”
“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 and the rest of the talented team to make Hippeas a household name.”
Thomas will join the company’s board of directors alongside Hippeas ceo and co-founder Livio Bisterzo. He said: “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,”
In 2018, the brand is expected to triple its 2017 revenue. The new growth capital from CAVU follows investment from Leonardo DiCaprio and Strand Equity Partners, earlier this year.
Hippeas are low-calorie, organic, gluten-free and suitable for vegans. The snacks are also certified kosher, contain no GMO, three grams of fibre and four grams of protein per single serving.
The Hippea brand is available to wholesalers now and comes in 22g packs (rrp £0.99). For each pack sold, the brand will donate a portion of sales to support farmers in eastern Africa.