Grovara, a Philadelphia, PA-based B2B global marketplace for U.S. natural and organic brands, raised $5.5m in seed financing.
The round was led by David Pottruck, who was named Executive Chairman, and was joined by Spins, Bluestein Ventures, Spiral Sun Ventures, Siddhi Capital, CEAS Investments, and E and A Venture Capital.
The company intends to use the funds to:
- expand sales and support resources in key regions worldwide,
- appoint leadership for brands, sales, and business development,
- invest in additional supply chain team members,
- roll out marketing initiatives, develop global partnerships, and
- continue with product enhancements to its technology platform.
Led by Co-Founder and now CEO Abu Kamara, who previously served as Grovara’s President, and Co-Founder Peter Groverman, who stepped away from his CEO role to fill the newly created Chief Innovation Officer position, Grovara is a B2B global marketplace for natural and organic brands. The platform increases access to wellness products for global consumers with its proprietary technology platform that connects promising U.S. healthy consumer brands with vetted global retailers. The system, built on a decade of exporting experience, brings access, visibility, and transparency to both brands and buyers via pricing, brand and market insights, and a modern B2C user experience for B2B business.
In 2021, the company anticipates onboarding 200 new brands and 350 additional retailers. Grovara connects major U.S. natural and organic brands like GT’s Living Foods, Wholesome Sweeteners, Honey Stinger, True Citrus, and That’s It with key global retailers like Walmart Mexico, Cencosud, Whole Foods U.K., and Costco Taiwan.
FinSMEs
24/03/2021