Fody Food Co. has secured an $8.5 million equity investment to help support growth of its gut-healthy food line.
The investment includes $4 million from District Ventures and $3 million from Export Development Canada.
“We love innovative products in the food space – especially ones that not only taste great but enhance a consumer’s diet through a natural ingredient base,” says Arlene Dickinson, general partner of District Ventures Capital. “Fody, a B Corp certified company, is led by an experienced entrepreneur, focused on providing clean, gut-healthy foods to aid the millions of people suffering from digestive issues. We’re excited to invest in them and see their business continue to grow in North America and beyond.”
Fody was formed in 2016 by Steve J. Singer, who is also the co-founder of Glutino, a gluten-free brand.
“With the incredible support of our new investors, Fody will be able to accelerate our momentum and expand on our sales and marketing activities,” says Singer.