LOS ANGELES — BetterBrand, a food tech company, announced the closing of $6 million in Series A funding, at a pre-money valuation of $170 million. This places BetterBrand’s first round of funding at more than double of some of the largest names in tech including Facebook, Stripe and Tesla.
The Better Bagel, the company’s flagship product, launched in 2021, touting the net carb equivalent of two banana slices. BetterBrand expects to debut 16 new SKUs over the coming months and plans to expand in North American and European markets.
“We are thrilled about this next chapter for BetterBrand to support our rapid global expansion and continued innovation,” said Aimee Yang, founder and CEO of BetterBrand. “This is yet another example of how our mission — proving that the impossible is possible — is demonstrated through practice, and touches not only our product innovation but the massive potential of Better’s power and scale.”
With this record-setting valuation, Yang is among only 150 sole female founders who have raised a Series A of over $5 million from institutional investors.
Verso Capital led this round with participation from returning venture capital firms such as the Gaingels Fund, Seven Seven Six and Craft Lane. Other participants included Kyle Vogt, founder and CEO of Cruise, venture capitalist Christ Hollod and investors Jeff and Glenne Azoff.
“Aimee Yang is an incredible entrepreneur and a solid operator,” Vogt said. “Her company offers life-changing, clean, functional products for those who previously felt they had to give up some of their favorite foods to fit their nutritional needs. It’s an exciting journey to be a part of.”
