Wilde Brands – the innovators behind the world’s first better-for-you chip made of chicken breast, egg whites and bone broth – has recently clocked up $20m in growth funding. Meanwhile, across the pond, Doughlicious – which is revolutionizing the way people enjoy classic cookie dough snacks – has successfully raised £3.5m.
The latest round for Wilde Brands was led by Greenwich-headquartered KarpReilly, set up by Allan Karp and Chris Reilly to partner with premier small to mid-size like-minded producers that are “ambitious, innovative and growth-focused. These are more than just buzzwords – unlike most other investment firms, where the general partners put up 1% or 2% of the firm’s invested capital, a substantial amount of our capital is from our general partners investing their own money,” says its website.
Wilde’s funding also included participation from American rappers Jackman Thomas ‘Jack’ Harlow and Colson Baker, known professionally as MGK (Machine Gun Kely), along with The Family Fund and Grey Space Group, among others.
Capturing their attention is the company’s impressive growth – doubling for the third year in a row – and expanded footprint into majors like Target, Walmart and Costco.
But the journey to this point hasn’t been easy.
In 2018, Wilde founder and CEO Jason Wright set out to upend the snacking status quo with a nutrient-dense protein chip targeting the health-conscious consumer like himself. However, while his dream was to create the one-of-a-kind chip, the reality involved a lot of trial and error.
“It takes a lot to do something that has never been done before: to redefine a category,” said Wright.
“Before Wilde, there was no product that crunched like a chip and checked all the boxes on protein, flavor and real ingredients – we up-ended the snacking status quo and it shows in our growth. Seeing how consumers and retailers have so enthusiastically jumped into this journey with us is the fuel that keeps us going.”
Less than a decade later, the Nashville-headquartered startup remains steadfast on its mission to make impossible snacks positive through relentless hustle and never-give-up attitude.
Using a proprietary formulation and process, the innovative snacks are produced at its own USDA-approved manufacturing facility in Kentucky, which recently expanded to support growing demand. This includes seven flavors – including Buffalo, Barbeque, Chicken & Waffles, Himalayan Pink Salt, Sea Salt & Vinegar, Nashville Hot and Spicy Queso – sold in more than 20,000 outlets across the US.
According to Wright, the new funding will help the company continue to do what matters most – “helping our fans to live ‘wilde-ly’”. It will also allow Wilde to build upon its current success, drive even more retail expansion, fuel marketing initiatives and support innovation as it looks to double its business yet again in 2024.
“From the start, we knew Wilde was a brand we wanted to get behind – disruptive and truly innovative,” said Billy Logan, managing partner at KarpReilly.
“We’re thrilled to continue to fuel their growth.”
Added Josh Wand, general partner at The Family Fund, “We believe in building companies alongside the founders we back, and we could not be more energized about joining the WILDE team. They’re poised to skyrocket both in terms of growth and brand excitement and we’re ready to support them every step of the way.”
A big bite into guilt-free snacking
Meanwhile, the 100% year-over-year growth by Doughlicious The London Dough Co captured the attention of Dutch investment group Triple B, which has diversified its portfolio to debut into the world of snacking.
Founded by Thomas G. Bata, Thomas A. Bata and Charlotte Bata-How, the international investment group supports projects and ideas that embody innovation and responsible capitalism, with a focus on real estate, growth opportunities and venture companies.
The recent investment round – which raised £3.5m for female founded and operated Doughlicious – sets the stage for its international expansion. Doughlicious is poised to captivate even more consumers with its array of frozen Cookie Dough and Gelato Bites with a nationwide launch in Whole Foods Market stores across the US.
The brand also produces a line of ready-to-bake cookie dough and ready-to-eat cookies – in fan favorite combos like Chocolate Chip, Chocolate Truffle and Cinnamon Churro – that it sells to grocers and foodservice providers throughout the UK.
Handcrafted in London in a bespoke 22,000 square-foot production facility that runs on renewable electricity, Doughlicious’ pre-portioned cookie dough-based snacks are designed to elevate the snacking experience with guilt-free snacks that minimize food waste. Gluten-free certified and made from safe, natural ingredients, the company’s portfolio embodies the perfect fusion of indulgence and sustainability.
“Triple B is thrilled to partner with Doughlicious, a trailblazer in the world of gourmet snacking,” said Thomas A. Bata, CEO of Triple B.
“The impressive 100% year-over-year business growth in each of the previous several years and the recent successful investment round underscore Doughlicious’ potential for further expansion and innovation.
“We are excited to join forces with Doughlicious and support its mission of delivering superior snacking experiences while championing sustainability and quality.”
Doughlicious founder Kathryn Bricken said the investment will boost the company’s mission to redefine the snack category.
“Our partnership represents a synergistic alignment of values and vision, as we continue to redefine the snack category with our innovative products and unwavering commitment to quality and sustainability,” she said.
“Together, we look forward to expanding Doughlicious’ reach and delighting consumers around the globe.”