Earlier this week, immi announced Siddhi Capital led its fundraise with participation from Palm Tree Cree, Constellation Capital, Animal Capital, Pear Ventures, Collaborative Fund and individuals, including Patrick Schwarzenegger, Kat Cole, Nik Sharma and the CEOs and co-founders of Thrive Market, Caviar, Daring Foods, Madhappy, Twitch, Kettle & Fire, MUD/WTR, Native, Amity Supply, Visionary Music Group, Italic, Tatcha and Casper.
“I am obviously very grateful to have been able to raise from a lot of respected founders in the space and food-tech. But for this fundraise, we were really also focused on ensuring that we could raise from people across industries like music and even apparel – investors who have a firm grasp on culture and what it takes to bring a food brand into the mainstream culture,” immi co-founder Kevin Lee told FoodNavigator-USA.
“For example,” he said, “Palm Tree Crew, which is the internationally renowned DJ Kygo’s fund, as well as Animal Capital, which has a lot of TikTok creator stars, both of these, as well as all the other investors, will be helping us a lot on the distribution side. For example, feeding immi amongst their influencer network, and helping us reach audiences that historically haven’t heard of or even known about immi, yet.
“So, I think this fundraise is really going to propel us both from an operations and pricing standpoint, but more importantly, just making sure we can reach a broad subset of audiences across the US.”
A solid foundation of ‘beta testers’ and fans
While immi’s investors no doubt will expand immi’s reach to new consumers, the young company, which launched earlier this year, already has proven its chops by cultivating a solid fan base, including 4,000 beta testers who have helped the startup tweak its offering to appeal to broader consumer base than those for whom the instant ramen was originally created.