May 17, 2020

Plant-based protein drink company Après receives $1.1mn in seed funding

Après
Rocana Venture Partners
Beverage
Nutrition
Laura Mullan
2 min
Credit: Après
US beverage company Après has said that it has received $1.1mn in a seed series fundraising round led by Rocana Venture Partners.

Launched in November...

US beverage company Après has said that it has received $1.1mn in a seed series fundraising round led by Rocana Venture Partners.

Launched in November 2017, the firm sells plant-based protein drinks using ingredients such as pea, chia, cacao and hemp. 

Après said that sales were 50% higher than expected and that the funding round was needed to facilitate this demand.

The funding will be used to restock its current product range and develop a new line of options in the near future. 

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"We've focused on building real relationships with our customers, both online and off, to inform our strategy and develop a community around the Après brand," said Après co-founder Sonny McCracken.

"It's still early, but we're seeing some strong signals that we're headed in the right direction. With the recent raise, we can use the proceeds to build on our early successes and amplify our growth."

Sumesh Sachar, managing partner and founder of Rocana Capital, added: “Rocana’s investment philosophy is to support next-generation CPG brands that are effectively engaging consumers as we continue to see a rapid movement towards better living.

“Après embodies our philosophies perfectly with a clean and nutritious product for the modern on-the-go consumer. Equally as important, Sonny and Darby have the combined skill set for building a brand that they live and breathe with the type of never-ending passion and drive that we look for in our founders.”

 

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May 17, 2020

Starbucks to open 10,000 sustainable stores in bid to save US$50mn

Starbucks
Green Energy
Renewable
Sustainability
Marcus Lawrence
2 min
Nestlé and Starbucks complete licensing deal for $7.15bn.
Starbucks has announced plans to open 10,000 “greener stores” around the world by 2025

The plans come under an initiative called the “Starbucks G...

Starbucks has announced plans to open 10,000 “greener stores” around the world by 2025

The plans come under an initiative called the “Starbucks Greener Stores Framework”, which the coffee company will develop with experts in the field such as SCS Global Services, and the World Wildlife Fund.

Kevin Johnson, Starbucks’ CEO, said in a company statement that Starbucks has a responsibility to promote environmental sustainability.

“We are a company in [sic] that believes, in the fabric of mission and values, that the pursuit of profit is not in conflict with the pursuit of doing good”.

The announcement aligns with Starbucks’ efforts over the past decade to create sustainable buildings, working in partnership with the US Green Building Council.

The company has said it will go beyond the Leadership in Energy and Environmental Design (LEED) sustainable building criteria, which it developed alongside the US Green Building Council, to focus on powering its stores in the US and Canada with 100% renewable energy.

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Starbucks plans to introduce technology to both new buildings and in renovations of existing stores that will save 25-30% on energy and water use.

Marketing Magazine said this could save Starbucks around US$50mn incrementally over the next decade.

This year, Starbucks committed to eliminate its reliance on single-use straws in 28,000 stores by 2020, and also said that it is developing compostable paper cups.

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