Parmela Creamery Raises $1.25 Million in Series Seed Funding

NEW YORK, June 19, 2019 /PRNewswire/ -- Parmela Creamery, a leader in cultured, plant-based cheeses, has raised over $1 million in a Series Seed financing round led by 25Madison. Other investors include Gather Ventures and Luke Abbott. The investment will enable Parmela to implement its vision of becoming the brand most known for making plant-based dairy the world's first option. Parmela will also utilize the funds to fuel growth, further strengthen brand awareness and support ongoing innovation.

Since launching in 2014, Parmela has grown rapidly due to its superior tasting cheese and nutritional content. Parmela's products are available in thousands of stores including Publix Super Markets, Whole Foods Markets, Wegman's and other leading retailers. Unlike other cheese alternatives, Parmela uses traditional culturing and aging as part of its cheese making process and that allows its cheeses to develop their authentic, rich and creamy flavors, appealing to vegetarians, flexitarians, plant-based consumers and everybody who enjoys healthier options.

"25Madison and Gather Ventures are a perfect match for Parmela," said Ry Salomone, Co-Founder of Parmela. "Their deep knowledge in the food space, serious appreciation for innovative plant-based foods and extensive industry network greatly impressed me. Our vision at Parmela is to honor the heritage of traditional cheese making while supporting a healthier, sustainable future. These visionary partners offer the operating experience and deep connections to help deliver on this vision at scale."

"The plant-based foods industry is seeing tremendous growth," said Steven Price, CEO and Co-Founder of 25Madison. "Parmela will be a national leader in the plant-based cheese category by continuing to focus on its craft process, superior ingredients and sustainability. We are thrilled to partner with Ry, Co-Founder Laurice and the Parmela team to accelerate their next phase of growth."

About Parmela Creamery
Parmela Creamery is an artisanal, plant-based cheese company. Parmela uses traditional cheese making techniques for its cashew-based cheese products, resulting in authentic taste and meltability. The company sells shreds, slices, sauces, dips, spreads, blocks and a new line of raviolis.

About 25Madison
25Madison is a startup studio, innovation hub and investment vehicle, dedicated to finding, enhancing and accelerating early stage and new business concepts. For more information, visit www.25madison.com.

About Gather Ventures
Gather Ventures is an early stage fund that provides capital and entrepreneurial experience to companies driving the shift from animal to plant-based food consumption.

Contact David Shteyman at [email protected] with questions (phone 917-808-4208)

SOURCE 25Madison

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http://www.25madison.com