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Backed by Patrick Schwarzenegger, female-led US foodtech BetterBrand gobbles $6M at $170M valuation

BetterBrand founder
Picture credits: BetterBrand

The refined carbs market worth over $12 trillion causes overarching negative impacts on human health, both physical and mental. This is where BetterBrand, a female-founded foodtech startup from Los Angeles comes into the picture by designing a Better future of food. The company aims to reinvent the bread aisle by transforming traditionally carb-laden foods into foods that are craveable and healthier for all. 

Record-smashing funding round

Now, BetterBrand has closed $6 million in Series A funding, at a pre-money valuation of $170 million. Reportedly, 150 sole female founders have ever raised a Series A over $5 million from institutional investors to day and this company is one of them. Also, it has smashed a historical record in valuation. 

The Series A round was led by VERSO Capital, with participation from returning VCs such as Gaingels Fund, Alexis Ohanian’s Seven Seven Six, and Craft Lane and notable individuals including Cruise Founder and CEO Kyle Vogt, venture capitalist Chris Hollod, and investors Jeff and Glenne Azoff. BetterBrand is also backed by Sean Thomas of the Wendy’s family, and actors Patrick Schwarzenegger and Emmy Rossum, amongst others. 

Previously, in 2021, the US foodtech startup secured $2.5 million in funding and made its founder Aimee Yang the first sole female founder to raise over $1 million in a venture-led pre-seed round across food tech, consumer, and food & beverage industries. 

European expansion on cards

With the investment, BetterBrand plans to unveil 16 new SKUs in the coming months. Also, it will expand to new markets across North America and Europe. 

“We are absolutely thrilled about this next chapter for BetterBrand to support our rapid global expansion and continued innovation,” said BetterBrand Founder & CEO Aimee Yang. “This is yet another example of how our mission – proving that the impossible is possible – is demonstrated through practice, and touches not only our product innovation but the massive potential of Better’s power and scale.”

“Aimee Yang is an incredible entrepreneur and a solid operator,” said Cruise Founder & CEO Kyle Vogt. “Her company offers life-changing, clean, functional products for those who previously felt they had to give up some of their favorite foods to fit their nutritional needs. It’s an exciting journey to be a part of.”

“Aimee’s unique combination of determination, vision, and ability to innovate sets her apart as a founder,” said Gaingels Managing Director Lorenzo Thione.” At Gaingels, we are thoroughly convinced that under her leadership, BetterBrand is poised to redefine our very relationship with carbohydrates, by combining health and taste in one innovative package. BetterBrand’s vision is not just about a product; it’s about a revolution in how we perceive and consume starches, worldwide. We’re excited to support Aimee’s journey in transforming this giant market and look forward to the indelible impact BetterBrand will make.”

The Better Bagel: Flagship product 

Founded by Aimee Yang in 2021 in Los Angeles, BetterBrand’s flagship product – ‘The Better Bagel’ transforms the carb-heavy bagel into the net carb equivalent of two banana slices, and features 250% more protein, 90% fewer carbs, and no added sugar. The high-protein, low-carb bagels are available online and on shelves in more than 1,000 stores in the US, including Whole Foods, Sprouts, The Fresh Market. And more. 

Led by Michelin-starred baker Matthew McDonald, each new BetterBrand product will bring timeless flavours to the table with the unrivaled innovation of the company’s grain-changing technology and will be available by the end of 2023. 

This carries the credits of being the number one new product entrant in the Natural retail channel in 2022. BetterBrand made its large-scale retail debut in a global launch with Whole Foods Market in Q3 2022, where it grossed over $1 million in sales in its first five months on shelves.

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