USA – Lil Bucks, a health-focused brand specialising in sprouted buckwheat foods, has successfully raised US$3 million in a Series A funding round led by Proterra Investment Partners.
This investment marks a significant milestone for the company, which was founded in 2018 by Emily Griffith.
Griffith aims to increase awareness and accessibility of buckwheat products in the United States.
Griffith stated, “This US$3 million investment is not inventory financing. It is for growth—talent, marketing, sales team, innovation, and working on a new product line.”
The funding is pivotal as Lil Bucks prepares to expand its retail footprint. Earlier this year, the brand launched its products at Target and expanded its presence at Whole Foods after initially debuting in the Midwest.
Griffith explained the strategic timing of these launches: “We delayed our launch at Target to ensure we had the brand recognition and financial support to succeed in stores.”
This careful planning has allowed Lil Bucks to build momentum in an increasingly competitive market.
Lil Bucks offers a variety of products, including Clusterbucks, a snack made from sprouted buckwheat, which is gaining traction among health-conscious consumers.
Griffith’s inspiration for the brand stemmed from her experience with buckwheat while living in Australia.
She noted, “I wanted to bring buckwheat to more U.S. consumers and educate them on its nutritional benefits.”
With its high fibre and protein content, buckwheat is becoming a popular ingredient for those seeking allergen-free options.
The company’s growth strategy includes leveraging direct-to-consumer (D2C) sales alongside wholesale distribution.
Griffith emphasised the importance of maintaining at least 30% of revenue from e-commerce as it provides better margins and valuable customer data.
“Digital marketing and influencer partnerships have been crucial for us,” she added. The brand’s omnichannel approach builds awareness and allows for flexibility in response to market changes.
Despite challenges securing funding during a capital crunch, Lil Bucks has utilised various financing strategies to sustain its growth.
Griffith shared her experience navigating these hurdles: “We were supposed to run out of money on my wedding day in June 2022, so we had to extend our runway.”
The company has explored options such as crowdfunding and cost-of-goods-sold agreements that retain equity, which have helped finance its inventory needs.
As Lil Bucks continues to grow, it aims to establish itself as a leader in the functional food space. Griffith believes buckwheat will become as popular as quinoa within five years.
“After COVID-19, people became more health-conscious and open-minded about trying new ingredients,” she noted.
This shift in consumer behaviour aligns perfectly with Lil Bucks’ mission to promote buckwheat as a versatile and nutritious option.
Looking ahead, Lil Bucks plans to invest the Series A funds into product innovation and expand its direct trade program with regenerative organic farms.
Griffith’s vision is clear: “We are creating a platform for one of the most versatile ingredients available that is currently underutilized in the U.S.”
With solid backing and a clear strategy, Lil Bucks is poised for significant growth in the natural food sector, making sprouted buckwheat a staple in health-conscious households across America.
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