NEWS IN BRIEF
Nona Lim raises $3m to expand its noodles, soups, and broths empire
“The seed funding round combines conventional foods and natural foods industry leaders focused on trends popular with millennials,” according to a statement from the company.
Nona Lim will use the financing to support product innovation, executive hires, and drive continued aggressive expansion into national retail and food service accounts. The brand is known for its inventive clean-label soups, Asian broths, fresh noodles and ‘Heat & Sip’ soup cups that provide convenient, plant-rich nourishment.
“Our investment partners offer considerable competitive advantage with expertise from veterans of industry-leading brands, unique access to data insights and relationships” said founder Nona Lim.
Launched in 2006 as a meal delivery service, Nona Lim has evolved into a brand known for clean-label innovations. Before launching the first Heat & Sip Cups of bone broth, the brand pioneered the refrigerated soup and broth category in retail and launched the first fresh gourmet rice noodles and ramen noodles in the refrigerated section of stores.
“Nona Lim’s record of clean label innovation is the future of food,” said Harbinger Ventures Founder and Managing Partner Megan Bent. Harbinger provides capital and expertise to fast-growing natural products brands led by female leaders. Harbinger’s advisors include serial entrepreneur Brendan Synnott (Bear Naked, EVOL, PACT Organic).
"Echo is proud to add Nona Lim to its portfolio,” added Benjamin Levy of Echo Capital Group. “With its suite of flavorful, nutrient-dense broths, noodles, and soups, the brand has made time-honored recipes, convenient and accessible." EchoCapital Group invests in consumer products that it believes will resonate with millennials and its investment fund comes from a single-family source built on the consumer brand Hot Pockets.
“As both entrepreneurs & investors, we look for companies with an authentic voice, a powerful purpose and that innovate relentlessly,” said David Navama, co-founder/president SPINS Ventures. SPINS Ventures develops data-driven technology, designed to deepen engagement between brands, retailers and consumers.
