GrinGrin Foods, a multi-category plant-based brand, has closed a €1.1 million investment round led by Dozen Investments. In this way, the company in the food sector exceeds financing expectations in a process that has also been supported by key co-investors Inveready and Capsa Vida, as well as individuals and companies who have confidence in the company’s prospects.
GrinGrin Foods is a 100% vegan company. Which always use high quality raw materials to develop the recipes created in the research and development department. Next, GrinGrin allies with industrial manufacturers to produce products that are brought to market, thus achieving hyper-specialization in each of the categories in which they operate.
In less than two years of its existence, the company has launched 45 all-vegan products. In addition, at this time, it has already established more than 300 points of sale and achieved a turnover of 1.5 million euros. Closing the funding round will allow the startup to continue researching new product development so that number will grow exponentially through 2023.
At present, this cooperation to produce new products has already been achieved cWith companies with a long history in the food sector such as Virto Group, Angulas Aguinaga, Embutidos Martínez or Vicky Foods (Dulcesol), Among other things.
Jordi Noguera, investment expert at Dozen, explains that the reasons for investing in GrinGrin were “first, to belong to a sector with tailwinds due to sustainability, health and efficiency issues in the food market and where the category of plant products, of plant origin, is growing at very high rates, in excess of 15% Secondly, in this environment, the food sector is a non-monopoly sector where many companies coexist, so the team’s execution ability is uneven. GrinGrin managed to pay out more than 1.5 million euros Without implementing any capital increase, which indicates the ability of the entrepreneurial team with the difficulties involved in starting a business in this market.”
Veggie foodie products
“We were born with a mission to create truly delicious, wild vegan products. Through which we provide the necessary solution to the market. These are suitable for vegetarians and vegans, and focus on covering all moments of consumption,” explains Ricard Puigdemont, Founder and CEO of GrinGrin Foods.
Flavor is the common thread of all the products launched by the brand. It has a big difference compared to other competitors in the market. GrinGrin’s philosophy is not to create alternatives to meat, but to create alternative vegan products, with a high sensory value, that are delicious and for all consumers, by transforming vegetable ingredients into irresistible recipes.