Venture Capital: Immi Lands $3.8M Seed Round For Plant-based Instant Ramen
“Instant ramen is a product that has been dominated by the same three incumbents for years.”
Ex-roommates, ex-co workers, San Francisco-based Kevin Lee and Kevin Chanthasiriphan co-founded immi after they saw the impact that unhealthy foods and diets had on their families as they suffered through chronic health conditions like diabetes, high blood pressure, and stomach cancer. immi’s objective: to add low-carb, high-protein, keto-friendly, and plant-based nutritional benefits to everyday instant ramen. The startup announced Tuesday its raise of $3.8 million of seed capital. (TechCrunch)
immi’s instant ramen
immi’s new offering of 100% plant-based instant ramen contains 21g protein and 6g net carbs and comes in Spicy Beef, Black Garlic Chicken, and Tom Yum Shrimp flavours.
“My dad still eats instant ramen each night, and it is such a massive market: 4 billion packets are sold per year, but it is also a product that has been dominated by the same three incumbents for years,” immi co-founder Chanthasiriphan told TechCrunch.
On its website, immi carries a nutritional comparison of its noodles with peers.
immi’s seed funding was led by Siddhi Capital and included participation from Palm Tree Crew, Constellation Capital, Animal Capital, Pear Ventures, Collaborative Fund.
Individual investors, including Patrick Schwarzenegger, Kat Cole and Nik Sharma, as well as executives from Thrive Market, Caviar, Daring Foods, Madhappy, Twitch, Kettle & Fire, MUD\WTR, Native, Amity Supply, Visionary Music Group, Italic, Tatcha and Casper also chipped in.
immi will use the capital for R&D, hiring and marketing, as well as to optimize its supply chain. The startup would also like to expand its sales network by entering wholesale channels and online grocers.
Currently, it sells online through its own store.
Related Story: HEGG, A New Vegan Egg Product From Singapore
Latest Alternative Investment News
Genesis Digital Assets, which runs 2.4% of the bitcoin mining network, has announced a $431 million raise led by Paradigm. Claimed to be the largest ever achieved by a bitcoin…
Hundreds of thousands of bats from about 40 species routinely nest under US bridges, and many of them are endangered or threatened. Transportation departments must mandatorily check for them before…
Amazon (NASDAQ: AMZN) installed AI-powered cameras in its delivery fleet in February as an investment in safety technology across its operations. The company said at the time the system would…
Wise (LON: WISE), the UK payments fintech previously known as TransferWise, has taken its first steps into investing solutions. Its Assets product allows users to invest in stocks but also…