Foodtech Startup Honey Mama’s Closes $10.3 mln Series A Round

Honey Mama´s, a Portland-based foodtech startup, has secured a $10.3 million Series A financing round to continue offering its nutrient-rich products.

The two phases of the Series A funding round were led by Amberstone, with the first phase taking place in June of 2020. The funds will be used to fuel the startup’s continued exponential growth rate by accelerating brand awareness, emerging channel development, and product innovations efforts. Alexander Bernstein, Managing Partner at Amberstone, referred to the firm’s participation in the round by saying:

“It is becoming abundantly clear that consumers understand and appreciate the attributes that are core to the Honey Mama’s brand – clean, simple ingredients delivering a nourishing and delicious product – which is reflected in category-leading velocities on-shelf. In the time since we first invested, the team has executed a brand refresh, introduced incremental new product offerings, achieved national expansion, and is now launching into the leading conventional food retail chains across the country,” said Bernstein. “We are thrilled to have the opportunity to deepen our commitment to Honey Mama’s as they continue to build a category-defining brand.”

Honey Mama’s aims to provide its consumers with an alternative that is both indulgent and nutritious with its signature product: a refrigerated cocoa truffle bars, which include whole food ingredients with no preservatives or shelf stabilizers. Founder Christy Goldsby expressed his belief in the startup’s ability to supply an increasing demand by stating:

“Consumers are truly joyous when they experience our one-of-a-kind bars that prove wellness can go hand in hand with indulgence. The only question then becomes what flavor is their favorite!. Our mission to change how people think and feel about indulgence is at the center of everything we do. From day one, Amberstone has brought a shared belief in this objective – Honey Mama’s is altering the food conversation and they see we are onto something big.”

The foodtech startup debuted a full band refresh at the start of 2021, which was part of a multi-year product strategy designed to strengthen its presence in the natural market, both online and with conventional grocery retailers.