UCAN to Expand Product Portfolio with New Round of Financing
eighteen94 capital will help UCAN expand its market from athletes to everyday individuals striving for better fitness
The UCAN Company, a manufacturer and distributor of nutrition products powered by SuperStarch, a patented, slow-release energy source, announced that it has completed a new round of financing to propel its growth in endurance sports and with active lifestyle consumers. eighteen94 capital, the venture capital fund of Kellogg Company, led the $5.75 million Series D funding of The UCAN Company and S2G Ventures also invested in the round. Simon Burton, managing director of eighteen94 capital, will join UCAN's board of directors.
"The financing from Kellogg's eighteen94 capital fund allows us to continue to invest in the branding and distribution of our UCAN products for steady energy," says Shoba Murali, CEO of UCAN. "Everyone needs long-lasting energy without stimulants. We are excited that this new round of financing will help us expand awareness of our products and let many more consumers know that UCAN's unique energy source SuperStarch provides fuel to the body without sugar."
UCAN is a popular energy source for runners and endurance athletes to fuel their training including professional runner Meb Keflezighi, the only marathoner in history to win the Boston Marathon, the New York City Marathon, and an Olympic Medal. In recent years, the product's popularity has expanded to a broader set of top professional and collegiate sports teams, thought leaders in fitness and performance, low carb enthusiasts, and weekend warriors seeking a steady, long-lasting energy source without sugar, caffeine, or stimulants.
"Investment in UCAN is a tremendous addition to eighteen94 capital's portfolio," said Gary Pilnick, executive officer of eighteen94 capital and vice chairman of Kellogg Company. "It is a unique interruptive business with an impressive team and a truly differentiated product. We look forward to working closely with them and providing all the help they need to continue their growth."
The SuperStarch carbohydrate is a revolutionary patented energy source originally created to provide energy for Jonah, a child who suffered from dangerous episodes of hypoglycemia. SuperStarch is a non-GMO food starch that's specially cooked to deliver a slow-release of complex carbs without a significant spike and crash in blood sugar levels. "This next phase for UCAN is a major milestone for me and my family," says David Feldman, Jonah's father and co-founder of The UCAN Company. "What began as a quest to help my son has resulted in an incredible product that is helping others achieve their best. It's very inspiring and tremendously fulfilling."
eighteen94 capital will help UCAN expand its market from athletes to everyday individuals striving for better fitness. The fund was launched in June 2016 to invest primarily in companies pursuing next-generation innovation, bolstering Kellogg Company's access to cutting-edge ideas and trends. The investment mandate includes a focus on start-up businesses pioneering new ingredients, foods, packaging and enabling technology.
UCAN nutrition products are currently available in powder and bar format, in a variety of flavors, to help fuel the body from start to finish. For more information regarding UCAN, visit www.generationucan.com. For more information regarding eighteen94 capital, visit www.1894capital.com.
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