After launching its products exclusively in Whole Foods across the U.S. and via Amazon, vegetables-based grain brand RightRice has secured a $5.5 million minority investment led by Strand Equity.
RightRice was created by Keith Belling who is also the mastermind behind one of the fastest-growing potato chips brands Popchips, and it is one of the first brands to launch in collaboration with both Whole Foods and Amazon.
Belling said in a statement: “We are thrilled that Seth Rodsky (founder and managing partner of Strand Equity) and Strand wanted to lead our round, and that so many tastemakers and industry leaders shared my vision for RightRice. Seth was one of my favorite and most helpful investors at Popchips and was my first call when I started thinking about funding.”
Advancing plant-based movement
Strand Equity prides itself on being a leading growth equity firm investing in the next generation of consumer brands. It partners with emerging brands to scale their businesses through its marketing and operational expertise, as well as its extensive network of industry relationships.
RightRice is “one of the most compelling brands and product propositions we’ve seen,” Rodsky said. “We are excited for the chance to invest in Keith, who has proven to be an innovator and category creator.”
According to www.forbes.com, Belling and Rodsky also worked closely to put together a group of investors that help RightRice with various facets of the business as it launches and grows.