Why CircleUp thinks machine learning may be the hottest item in consumer goods
Summary
CircleUp, whose start as a crowdfunding platform that connected accredited investors with food and beverage start-ups landed it on the inaugural CNBC Disruptor 50 list , has looked to evolve alongside the industry. In fact, the top 20 consumer packaged goods companies are estimated to grow five times slower than their smaller category competitors, according to an Accenture report . Add the growth of the category on top of that – overall consumer packaged goods volume sales g rew 4.3% in 2021 – and the emphasis on finding the next big thing has become even more important for companies and investors in the space, as well as the desire for founders with those ideas to access funding. Consumer behaviors, demands, and expectations have started to flip the industry as well, with shoppers willing to go well beyond a grocery store shelf to find a product they want to buy. Mitchell pointed to Asian-inspired sparkling water brand Sanzo, which CircleUp Growth Partners led a $10 million Series A round in February and which features flavors like lychee, calamansi lime, and yuzu ginger.