Fody Food Co. raises $8.5 million
Summary
Singer, co-founder of Glutino, a gluten-free snacks and baking mixes brand. The Montreal-based startup offers a range of gut-friendly sauces, salsas, marinades, condiments, dressings, seasonings and snack bars online and in more than 7,000 grocery stores across North America. The products are free from triggers commonly associated with digestive discomfort, including onions, garlic and lactose. They are Monash-certified Low Fodmap as well as vegan, gluten-free and non-GMO verified.We want the millions of Americans suffering with digestive distress to be able to enjoy all the foods they love without the worry, Mr. Singer said.The company will use funds from its latest round to accelerate distribution growth and expand its marketing initiatives.Fody Foods is at the forefront of the rapidly evolving digestive health industry, and the company has demonstrated its ability to develop unique high value products for a growing market, said Carl Burlock, executive vice president and chief business officer at Export Development Canada. EDC is proud to offer further support to this innovative Canadian company, and we look forward to seeing them expand internationally.Previous investors New Acres Capital Ag & Food and Jonathan Ross Goodman also participated in the round.