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Kate Storey, Partner of Renewal Funds, said, "As an active investor in the plant-based category, we've tracked Hodo's brand expansion and momentum closely. Hodo's growth and popularity is rooted in organic ingredients and culinary innovation that sets it apart from the competition and resonates with top chefs and retail consumers alike. We share the values that have earned Hodo such a loyal following and are proud to support the team in this exciting stage of growth"
Fremont, CA: Hodo, a plant-based food company, received a Series B investment from Renewal Funds. The financing will fuel the company's production capacity expansion to meet the rising demand for its products from the retail marketplace.
Hodo, based in California, produces organic, clean-ingredient, and flavor-forward products such as Moroccan Cubes, Cajun Burgers, and Curry Nuggets. Hodo is admired by consumers and many chefs for its delicious plant-based foods that are organic, healthy, carefully sourced, and minimally processed.
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Hodo has hit several milestones recently, including a successful launch with more than 1,200 Publix Supermarkets at the beginning of 2020. Hodo is now available in over 6,000 stores in North America, including Whole Foods, Target, Publix, Walmart, and Natural Grocers- twice the size of its retail footprint of a year ago. Paul Richardson, Managing Partner of Renewal Funds, joined Hodo's board of directors with the financing.
Kate Storey, Partner of Renewal Funds, said, "As an active investor in the plant-based category, we've tracked Hodo's brand expansion and momentum closely. Hodo's growth and popularity is rooted in organic ingredients and culinary innovation that sets it apart from the competition and resonates with top chefs and retail consumers alike. We share the values that have earned Hodo such a loyal following and are proud to support the team in this exciting stage of growth."
"Renewal Funds' eye for category-disrupting brands and its track-record of execution makes their team ideal to work within expanding Hodo's growth in North America. Renewal is one of the original impact funds, and we were pleased to find a partner with a social and environmental mission that aligns with our own. We are excited to have such a selective, high-integrity partner on board that gets our strategic goals and has the experience to help us achieve them," says Minh Tsai, Founder of Hodo.
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