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Fat-fueled brand Bulletproof takes in $19 million from investors

Venture capital firms back the coffee and food company, which says it has plans for new products and expansion in both e-commerce and retail.

Bulletproof 360, makers of Bulletproof Coffee and other performance-enhancing food and beverage products, announced today that it raised more than $19 million in Series B funding led by CAVU Venture Partners, the high-profile consumer-focused investment firm led by Rohan Oza, Clayton Christopher and Brett Thomas. Trinity Ventures, an original Series A investor for the brand and an early Starbucks and Jamba Juice investor, also participated in the round. The injection of funding follows an initial $9 million round in 2015, and will support the brand’s high-growth trajectory both in e-commerce and at retail locations.

"For too long, consumers were satisfied with cheap food that tasted good, without much regard for what it was actually made of," said company founder and Chief Executive Officer Dave Asprey. "Now, people are waking up to the idea that food is meant to fuel us, and that what matters most is how your food makes you feel. We raised this round of funding from CAVU Ventures, one of the world’s most innovative investors in the consumer space, to continue leading the way in the performance nutrition revolution. This injection of capital will ensure that people get faster, easier access to the world’s highest performing coffee and food."

CAVU Venture Partners has a strong track record of building successful consumer brands, as well as a high-profile reputation in the food and beverage category. Its founders are known in the industry for success stories including vitaminwater, smartwater and Deep Eddy Vodka. Most recently, the firm saw return on its investment in Bai Brands through its acquisition by Dr. Pepper Snapple Group for $1.7 billion in late 2016.

"Dave Asprey is a visionary and creative disruptor, and we’ve long admired his commitment to bringing high quality food, beverage and supplement products to consumers via the Bulletproof platform," said Rohan Oza, partner at CAVU. "We feel Bulletproof has created a whole new category around products that fuel human performance. We’re excited to partner with Dave and the Bulletproof team to continue the company’s growth momentum."

The funding round comes on the heels of the hiring of Anna Collins as chief operating officer earlier this year. Collins, who joined Bulletproof from Amazon, is responsible for the company’s growth strategy and operations, driving multi-channel growth for the company’s portfolio of products, including the signature Bulletproof Coffee, Brain Octane oil, FATwater, Collagen Bars, Collagen Protein and more.

"Since inception, Bulletproof’s performance-based approach has had an enormous impact on the health and wellness industry," said Dan Scholnick, general partner at Trinity Ventures. "Similarly, CAVU and Rohan have consistently championed products that disrupt the beverage segment with more nutritious and ‘better for you’ alternatives. Bulletproof is all of that and more—so this partnership is not only natural, but also quite powerful. We’re excited to see this latest investment propel the brand and the company to new heights."

In addition to two existing Bulletproof Cafés in Southern California, the brand has plans for a 2017 retail expansion to New York City and other locations yet to be announced. Asprey’s newest book, titled Head Strong, was released on April 4 and is the second Bulletproof book to reach the New York Times bestseller list. The Series B funding supports the brand’s momentum from the first quarter of the year and will aid in its brick and mortar expansion, as well as planned product launches and other innovative developments.

Asprey founded Bulletproof in 2013 after spending two decades and more than $1 million to hack his own biology. Bulletproof continues to provide a range of solutions for consumers to improve their bodies and minds.

Source: Bulletproof 360

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