LOS ANGELES — Food technology startup Better Brand has closed a $2.5 million funding round led by Seven Seven Six, a venture capital firm founded by Reddit co-founder Alexis Ohanian. Additional investors include Soma Capital, VERSO Capital, Cruise founder Kyle Vogt and actor Patrick Schwarzenegger. In total, Better Brand has raised more than $4 million this year.
Described as the “Beyond Meat of carbs,” Better Brand uses modified enzyme technology to reduce the net carbohydrates in grain-based foods. Its first product, The Better Bagel, has the net carbohydrate equivalent of two banana slices and the protein content of four eggs, according to the company. The product is formulated with modified wheat starch, wheat protein isolates, potato starch, chicory root fiber, extra virgin olive oil, yeast, organic brown rice flour, organic white vinegar, sea salt and enzymes.
Aimee Yang, founder and chief executive officer, launched the company to address her personal dietary concerns.
“I’ve struggled with diet my entire life, constantly oscillating between feeling either guilty or deprived,” Ms. Yang said. “I used to dream of a world where I could eat what I wanted without having to worry about weight gain or negative health consequences. Better Brand is now making that world a reality.
“That starts with tackling refined carbs — a $10-plus trillion industry causing overarching negative impacts on human health, both physical and mental. We’re excited to continue pioneering innovation in this space, and grateful to have an incredible team of partners onboard to help drive our mission forward.”
Better Brand plans to use the proceeds from the funding round to further research and development, accelerate hiring and prepare for large-scale retail distribution.
“Better Brand is revolutionizing the foods we love by making major advancements in food tech — starting with refined carbs by creating healthy and delicious alternatives,” Mr. Ohanian said. “With the exponential growth we’ve seen in the plant-based sector, there's clear demand for alternatives to foods considered unhealthy and unsustainable. I’m excited to back Better Brand and work with Aimee to bring her vision to the world.”