Hippeas Organic Chickpea Snacks said it has raised $50M from The Craftory Ltd. Craftory is an investment house that is a notably counter-corporate and anti-traditional VC, Hippeas reported.
The snack brand said it will use the funds to "boost innovation, expand production, increase distribution, and amplify its positive impact." The financing consisted of direct investment and secondary purchases of shares from existing Hippeas shareholders, including CAVU Venture Partners.
Hippeas, known for its yellow bag with a chickpea smile, debuted in the second quarter of 2016 in the U.S. and the UK, with a line of organic puffs made from chickpeas. In 2019, the brand launched Hippeas Organic Tortilla Chips, chickpea-based tortilla chips. Both lines are USDA Organic, certified gluten-free, vegan and totally delicious. To date, the brand has secured shelf-space at 50,000 stores, and they're widely sold at micro markets and in vending machines.
Chickpea plants naturally release nitrogen back into the soil, so they are good for the earth, just by being themselves, and Hippeas wants to make this known. Sticking to its mantra of "Peas, Love & Giving Back," the company supports local Feeding America food banks across the country by donating food and aiding in disaster relief efforts.
Based in London and San Francisco, Craftory is a $375 million global investment house focused exclusively on amplifying the world's boldest consumer brands. It offers permanent, early-stage and growth capital to cause-driven CPG brands that positively impact the categories they serve, society, and the planet. Craftory is a B-Corp.
