Blue Stripes Raises $20 Million in Funding
Blue Stripes Raises $20 Million in Funding
Blue Stripes Raises $20 Million in Funding
News summary

Blue Stripes, a sustainable cacao brand, has successfully raised $20 million in a Series B funding round led by Zintinus, The Hershey Company, and Whole Foods Market. Founded in 2018 by Oded Brenner, the company focuses on upcycling the entire cacao pod, which traditionally sees 70% of its fruit discarded, to create nutritious products like cacao water and granola. The funding will be used to develop new products, expand distribution, and raise consumer awareness about the benefits of cacao. This investment aligns with Hershey's broader initiative, 'Cocoa for Good', aimed at addressing climate and labor challenges in the cacao industry. Despite a challenging fundraising environment, Blue Stripes has now raised a total of $40 million, which will sustain operations for the next three years. The company aims to educate consumers about cacao fruit while addressing the economic disparities faced by cacao farmers.

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