Ditch the Agave Nectar and Maple Syrup – Food Technology Company The Single Origin Food Co [Sofco] just raised $ 1.1 million to bring its vegan Un-Honey to customers across the United States. The Delaware-based company recently welcomed seed funding to deliver its product to more consumers and continue its progress in mimicking bee-based honey. The Vegan Un-Honey uses plant-based ingredients as well as organic flower pollen to deliver a honey-based product without the intervention of bees.
“Our mission is to repair the food chain,” said Sofco CEO Belal Elbana. “Our one-stop-shop model of working with our agricultural partners actively reduces greenhouse gas emissions, increases biodiversity, eliminates the use of animals from the food chain, and provides full product traceability to our customers for ensuring that we deliver the highest quality and best value food to the market. . We are proud to say that we are on the right track.
Sofco’s investors and partners believe this product is supposed to disrupt the honey market, redefining the way consumers buy honey and the way the industry sources its ingredients. The company currently distributes its products to more than 3,500 retail stores across the United States. Vegan Un-Honey is currently gaining rapid popularity across the country following its rollout to the Sprout Farmers and Whole Foods markets. Soon, other retailers, including Natural Grocers and Safeway Albertsons, will see Vegan Un-Honey on the shelves.
The company is currently revamping its product line and plans to launch several varieties of its Vegan Un-Honey. Sofco’s selection currently includes Amber Vegan Un-Honey which uses organic cane sugar from Colombia, Blonde Vegan Un-Honey made with coconut nectar from Thailand and Copper Vegan Un-Honey made with nectar from date from Coachella Valley in California. The company plans to develop two new products, including Sugar Free Nada and Vegan Un-Honey made from Golden Maple. The biologic product is expected to continue to expand following this funding round.
The funding round led by Silicon Valley-based venture capital firm A’Z Angels is intended to help the company move forward in the development of its new products. The innovative product has raised enough money that the venture capitalist thinks it could impact both the plant market and the market as a whole.
“Our portfolio is mainly made up of technology companies. However, Sofco and Vegan Un-Honey are poised to disrupt the food industry with innovation at the heart of everything they do, ”said Amr Abdelaziz, Managing Partner of A’Z Angels. “We firmly believe in sustainable development, which is a key driver of innovation. The US vegan food market is estimated at $ 4.3 billion by 2026. We see high growth potential for Sofco.
The global honey industry is currently facing several hurdles, as climate change and human involvement have negatively affected bee diversity and habitats. The honey industry is valued at $ 9 billion, but faces urgent changes as the industry becomes increasingly unsustainable. The change allows other companies like Sofco to take advantage of the opening up of the market.
Similar to Sofco, a California start-up Melibio has developed a method to create real honey without bees, recently securing $ 850,000 in pre-seed funding. With the honey industry struggling to meet sustainability standards, food technology companies have seized the opportunity to reveal products to fill the market void while driving sustainable practices globally.