US: Plant-based honey start-up raises $1.1 million in seed round
The Single Origin Food Co plots wider rollout of latest product in the US as well as accelerated product development
US-based plant-based ingredients start-up The Single Origin Food Co (SOFCO) has raised $1.1 million in seed funding as it prepares to expand the reach of its plant-based honey alternative.
The round was led by early-stage VC firm A’Z Angels, which invests in experienced founders that are developing disruptive innovation.
Funds will be invested in the increased production and roll-out of SOFCO’s Vegan Un-Honey product, which is already available at Sprouts Farmers Market branches in the US, and will soon launch in Whole Foods, Natural Grocers and Safeway Albertsons.
“Our seed round will support the Vegan Un-Honey rollout and accelerate product development,” SOFCO CEO Belal Elbana said.
“Longer term we see enormous potential of further ‘Un’ plant-based natural products and fortification using organic flower pollen and wild nutrition,” Elbana added.
Future iterations of the Un-Honey product will include an added flower pollen option, a sugar-free version and a maple syrup-flavoured version.
Amr Abdelaziz, managing partner for A’Z Angels said: “We see innovative high growth potential for SOFCO and we’re excited to partner with them on this journey.”
SOFCO’s portfolio of rice, salt and sugars is sold across 3500 supermarkets in the US.