Buddha Brands, a Montreal QC-based company which specializes in plant-powered food and beverages, raised $3M in funding.
The round was led by BDC Capital with participation from Investissement Quebec.
The new investment will help accelerate the brand’s U.S. expansion via sales and marketing initiatives, as well as research and development for future projects.
Led by Chris Magnone, CEO and co-founder, Buddha Brands offers plant-powered snacks made with only clean, plant-powered ingredients, without sugar alcohols, palm oils, and other major allergens like dairy, soy, or peanuts. The line is Certified Vegan and Keto, Non-GMO Project Verified, gluten-free, and produced in a dedicated peanut-free facility. In 2020, the company expanded into the U.S. market with the introduction of its Hungry Buddha® Keto Bars and are now in more than 1,500 natural independent retailers and grocery stores nationwide, including Sprouts, H-E-B, Wegmans, Meijer, Costco, Thrive Market, Amazon, Loblaws, Whole Foods, Metro, and more.
The bars are available in such flavors as Chocolate Chip, Coconut Cocoa, Espresso Brownie, and Triple Chocolate.