The Consumer VC Roundup #67
Hey Friends,
Thanks to everyone who came out to our morning meetups last week in New York, Los Angeles, and Austin. We hope to expand to a couple more cities this month – stay tuned.
It was a hard week for emerging CPG brands and employees at Foxtrot and Dom’s Kitchen. Their locations in Chicago, Texas and Washington D.C became community staples and unfortunately closed abruptly last week. For many brands, it might have been their first retail account. We were talking with them a week before they shutdown as we were hoping to host our Chicago morning meetups in one of their locations. Wishing the team and employees well in their next adventures.
Events
Tonight –📍LA Happy Hour at Manufactured’s HQ
In addition to The Consumer VC, I also host a podcast called re:COGs, which is about the inventory and supply chain side of building brands. We’re throwing our 1 year anniversary party in Los Angeles at Manufactured’s HQ. Manufactured is an inventory success platform that helps brands with manufacturing, financing, and distributing their products.
📆 April 30th 🕔 5PM 😎 Vibe: Happy Hour Hang
If you’re in LA and a brand executive or investor, we’d love to see you there. You can RSVP Here.
This issue is brought to you by Propeller Industries.
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💻Consumer Software💻
🤖 The National Institute of Standards and Technology (NIST), the U.S. Commerce Department agency that develops and tests tech for the U.S. government, companies and the broader public, announced the launch of NIST GenAI, a new program spearheaded by NIST to assess generative AI technologies including text- and image-generating AI. Tech Crunch
🏡 Backflip, the startup that offers a service to real estate investors for securing short-term loans to flip houses, raised $15 million in a Series A funding round led by FirstMark Capital, a firm which invested early in the likes of Airbnb, Shopify and Pinterest. Tech Crunch
🛒 Moso, the shop-to-earn platform that merges online shopping with cryptocurrency, announced the successful completion of its $2 million seed funding round led by Symbolic Capital, Dao5, Coinlist, Polygon Ventures, along with several strategic angels. PR Newswire
🛍️Consumer Brands / Inventory-Based Businesses🛍️
🍫 WILDE, the protein snack brand, raised $20m in a round led by private-equity firm KarpReilly, which will help raise the brand’s awareness as more consumers seek nutrient-rich foods to improve their health. Food Navigator
🥤 KEY, a startup founded by former executives from PepsiCo and Coca-Cola, aims to transform the U.S. functional beverage market with its zero-sugar, ketone-based energy drink. has raised $4 million in seed funding led by AgFunder and backed by Alethia Venture Partners and AgFunder SIJ Impact Fund. AFN
❤️🩹 Playground, an intimate wellness label founded by singer Christina Aguilera, announced that it had closed a $2 million funding round, led by Palm Tree Crew Holdings with participation from Amboy Street Ventures and Fourward Ventures. Business of Fashion
🛒eCommerce & Retail Tech🛒
⚙️ Churnkey, the leading provider of subscription retention automation software, raised $1.5 million from CreativeCo, to accelerate its growth. PR Newswire
💸M&A💸
💄 L Catterton, a Greenwich, CT-based global consumer-focused investment firm, announced that it has entered a definitive agreement to acquire a majority stake in the Italian beauty brand KIKO Milano from the founding Percassi Family, who will retain a significant stake in the company. Finsmes
🏪Distribution Expansion🏪
🧆 Lindt expands plant-based portfolio with a plant-based version of its popular truffles using oatmilk. The confections come in OatMilk and Dark Chocolate OatMilk. Food Dive
🦠 Supergut, the only clinically validated superfood brand to improve gut health and curb cravings, announced a nationwide partnership with GNC, a global leader in health and wellness to expand its reach and capitalize on the growing interest in gut health and GLP-1 support. Business Wire
🔻Bankruptcies🔻
🏪 Foxtrot, the convenience store chain known for its upscale offerings and rapid delivery service, abruptly shut all 33 of its stores in Chicago, Texas, and Washington, D.C., as well as two Dom’s Kitchen and Market stores, a small upscale Chicago grocery chain that it acquired in November. Food&Wine
🛍️ Express, the well-known clothing retailer that has been a fixture in American malls for years, has filed for bankruptcy protection, closing dozens of stores but also eyeing a survival plan that involves getting sold. NPR