Tio Gazpacho Secures $1.25 Million In Funding With Lead Investment From General Mills
Award-Winning Chilled Soup Closes Funding Round With Leading Consumer Food Company
Mar 29, 2016, 09:30 ET
NEW YORK, March 29, 2016 /PRNewswire/ -- Tio Gazpacho, award-winning maker of chilled, ready-to-drink vegetable soups, announced today that it has closed a $1.25 million Series A funding round with 301 INC, General Mills' new business development and venturing unit, as the lead investor. The round was raised on CircleUp, the leading investment marketplace for emerging consumer and retail companies. The Series A round also includes investments from other private investors in CircleUp's marketplace, and from the Growth Fund, an investment fund managed by CircleUp.
"Tio Gazpacho offers a new soup experience with its refreshing and vibrant high quality ingredients served in a drinkable and portable bottle," said John Haugen, Vice President and General Manager of 301 INC. "We strongly believe in brands eager to make a difference in the marketplace and are thrilled to work with Tio Gazpacho to maximize its success within the food industry."
Austin Allan, founder and CEO of Tio Gazpacho, added: "We're looking forward to the insights and experience that General Mills can offer to our brand and we believe our mission and their expertise will ultimately lead to unprecedented success for the Tio brand. Our partnership with 301 INC now opens the door for a larger audience to access our wholesome, organic, plant-based soups."
"Tio Gazpacho's current growth, strong brand and cause-driven company mission exemplifies the kind of business we see achieving great success and driving strong investor returns," said Ryan Caldbeck, CEO and co-founder of CircleUp. "We use a tremendous amount of data to evaluate emerging consumer brands to make decisions about which companies enter our investment marketplace and it is a great achievement for Tio Gazpacho to have passed through our data-driven model."
Tio Gazpacho uses recipes crafted with organic ingredients to create their signature-chilled soups, available in three flavors: Gazpacho Clásico (vine-ripened tomato, green pepper, and cucumber), Gazpacho Verde (kale, spinach, avocado, and mint) and Gazpacho de Sol (yellow tomato, yellow pepper, and carrot).
Tio Gazpacho is available throughout the NYC metro market, and anticipates expanding into other market areas shortly. For more information on Tio Gazpacho visit www.tiogazpacho.com.
About Tio Gazpacho
Tio Gazpacho takes the original gazpacho soup, blended with fresh, nutritious ingredients, boasting an exotic history with influences from Greece, Italy and Africa, and finally perfected in Spain, and turns it on its head, with three bold, delicious variations - all organic and alive with flavor. Tio Gazpacho is a new concept in refreshment and nutrition, bringing all the flavors and health benefits of Mediterranean eating to American consumers with its line of ready-to-drink gazpachos. Perfect for a healthy snack or lunch on the go. Ready to drink straight from the bottle. No bowl required™.
SOURCE Tio Gazpacho
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