PlantFuel prepares to launch portfolio of new products as rapper and former NFL player backs business
Plant-based sports nutrition brand PlantFuel has added internet rapper Lil Yachty and NFL Hall-of-Famer Terrell Owens to its roster of investors as both bet on the booming supplements sector.
Lil Yachty’s investment comes from the rapper’s recently launched venture capital firm Scoop Investments, which he recently launched with his manager and advertising executive Adam Kluger.
PlantFuel produces vegan protein blends and functional foods fortified with nutrient-rich fungi and algae.
Next week the company will launch a selection of new products including protein powder and hydration supplements.
Lil Yachty said of the investment: “It’s brands like PlantFuel that inspire and allow me to stay actively involved creatively beyond just investing.”
Terrell Owens said: “From Day 1, I was thoroughly impressed by my exploration of PlantFuel and its products. I am excited about my partnership with PlantFuel and delighted to join their team.
The investment amounts from each party were undisclosed.
PlantFuel signed an exclusive brick-and-mortar distribution deal with US wellness retailer GNC in August, with the store securing $3.9 million in its first order.
The company will also feature on Amazon’s start-up platform Launchpad, which will see PlantFuel products marketed to millions of Amazon users.
Last month the company closed a $3 million equity raise and secured a $2 million credit facility to fund its inventory growth.
Date published: 1 September 2021