POINT RICHMOND, Calif., July 22, 2021 /PRNewswire/ -- Urban Remedy, the ultra-fresh plant-based food company offering certified organic ready-to-eat meals, snacks, and cold pressed juices, today announces the close of its $18 million Series D fundraising round, led by Manna Tree, the Vail, Colorado-based investment firm committed to improving human health through nutrition. Joining in the round are existing partners Builders Fund and Obvious Ventures.
The partnership will consummate Urban Remedy and Manna Tree's shared goal of providing convenient, nutrient-dense foods to consumers everywhere through Urban Remedy's established omnichannel distribution points.
"When we met the team at Manna Tree, we immediately recognized our synergies. Their shared commitment to giving consumers better access to nutrient dense, clean food is exactly what we were looking for in a partner," said Paul Coletta, CEO of Urban Remedy.
Through the investment, Manna Tree will aid key hire placements and provide resources to support further manufacturing efficiencies and increased consumer awareness through digital marketing investments.
"Despite COVID-19 challenges, Urban Remedy doubled its kiosk locations during 2020, while ramping up its online platform. Consumers are continuing to realize that food is medicine, and the impact nutritious food has to their overall health," said Pam Shepherd, Managing Director, Manna Tree. "Consumers recognize Urban Remedy as a leader in providing highly nutritious and convenient product solutions. They never cut corners on ingredients and are wholly committed to the future of the planet and human health."
Urban Remedy was founded in 2009 by licensed acupuncturist Neka Pasquale with the belief that "Food is Healing." Neka continues to utilize the wisdom of ancient Chinese medicine to craft modern-day food by using seasonal, organic ingredients that nourish the mind and body. Urban Remedy is available online for nationwide delivery, at Whole Foods and Safeway, and at Urban Remedy shops and kiosk locations throughout California.
About Urban Remedy
Urban Remedy delivers plant-based, organic prepared meals that embody the belief that Food is Healing and empower consumers to conveniently eat ultra-fresh and clean. All of Urban Remedy's ready-to-eat meals, snacks and cold pressed juices are certified organic, certified non-GMO Project Verified, and gluten free. Urban Remedy operates 270 grocery kiosks in 21 states across the US. Learn more at www.urbanremedy.com.
About Manna Tree
Manna Tree is a Vail, Colorado-based investment firm committed to improving human health through nutrition. The firm invests in and actively partners with growth-stage companies. Manna Tree believes the future of health, well-being and longevity is attainable through innovation in food. Manna Tree has made six investments to date: Evolve Biosystems, Gotham Greens, Verde Farms, Nutriati, Vital Farms, and MycoTechnology. www.mannatreepartners.com.
About Builders Fund
The Builders Fund is a growth-stage private equity fund investing with an impact lens in the intersection of purpose-driven brands and the disruption, and opportunity, created by the need to solve large social and environmental challenges. The firm partners with established, high-growth North American-based companies with revenues between $20-100m, whose fundamental business models create positive social/environmental benefit. Core themes of focus include sustainable food & agriculture, health/wellness, climate solutions/resource efficiency and human elevation/social justice. Over thirty of Builders' founding Limited Partners are former operators & entrepreneurs: "Builders", committed to serving as operating partners to the fund and to supporting the entrepreneurs and leaders who are building businesses that improve the world.
About Obvious Ventures
Obvious is a venture capital firm investing in entrepreneurs reimagining every sector of the economy through a world positive lens. Since launching in 2014, Obvious has backed over 70 purpose-led companies using technology to create a smarter, healthier, more sustainable world. Obvious, one of the first firms in the world to become B Corp Certified, is a multi-stage investor with over $600M AUM. For more head to www.obvious.com.
SOURCE Manna Tree