The foodtech Nuu, from Mina Gerais, secured $4M in funding to expand the distribution of its carbon-neutral products made of manioc. The round was led by EcoEnterprise Fund with the participation of CamelFarm Capital, Newlin, MadFish, Bioma Food Hub, and angel investors from GVAngels and Gávea Angels.
The capital goes towards marketing and sales efforts. According to the CEO, Rafaela Gontijo, Nuu plans to reach 6,000 points of sale in the next two years. The company had been bootstrapping until this round.
“Up until today, we’ve grown through bootstrapping with no marketing efforts. Now, we want to invest in marketing to inform our consumers why Nuu is a sustainable brand and why this matters,” explained Rafaela Gontijo.
Nuu is led by female founders with the goal of harnessing technology and innovation in manioc, a common root vegetable in Brazil and other countries in South America. Their mission is to introduce it under different formats and recipes to Brazilian tables to propose sustainable and healthy meals based on a local ingredient.
Source: Startupi.