News for September 11, 2024

San-Francisco, California-based ZBiotics, a “proudly GMO” company that manufactures probiotics, has raised $12 million in a Series A funding round. Spring Tide Capital led the round, which included Access Capital, Seamless Capital, Goat Rodeo Capital and Seaside Ventures. The company aims to expand its retail footprint while exploring other opportunities for genetically engineered probiotics. The company’s first product, involving probiotic bacteria, is injectable. Among other things, it can mitigate the effects of hangovers. The product helps the body produce an enzyme that is crucial for breaking down acetaldehyde (a compound responsible for hangovers). In addition, the company anticipates launching a gut-health probiotic this year, and is investigating new probiotics for addressing sleep, vaginal health and athletic performance. ZBiotics reported that it has doubled sales every year since its launch in 2019 and reached profitability in 2023.

With the closing of a $24 million Series B funding round, The Rounds—a startup that delivers groceries and household essentials in sustainable packaging—will invest more in product development, hiring and expanding the service to additional markets. The company, which was launched in 2019, offers its services today in select markets including Atlanta, Georgia; Washington, DC; and Philadelphia, Pennsylvania. Moderne Ventures led the funding round, with participation from Construct Capital, First Round Capital, FJ Labs, Redpoint Ventures and others. The Rounds has raised $66 million since its launch. One of the company’s technology initiatives involves using AI to closely predict when customers will need to restock items.

Portable carbonation device manufacturer Aerflo raised $10 million in VC funding. Lerer Hippeau and Torch Capital led the round, with participation from Closed Loop Ventures Group, Good Friends, SWAT Equity Partners, WISE Ventures, Bluestein Ventures, RiverPark Ventures and Palm Tree Crew, among others. Brooklyn, New York-based Aerflo will use the capital to nurture research and development, navigate regulatory landscapes and build refill infrastructure. The company’s portable carbonation device contributes toward zero-waste goals.

Hain Celestial Group has sold its cheese-snack brand ParmCrisps to Our Home, a family of brands focused on wholesome snacking. The purchase by Our Home comes on the heels of the company’s acquisition of Sonoma Creamery earlier this year. ParmCrisps, which launched in 2017, offers consumers high-protein, low-carb cheese crisps and snack mixes. Hain Celestial purchased ParmCrisps and Thinsters from Clearlake Capital in December 2021 for approximately $259 million, New Hope Network reported at the time. Terms of the sale were not disclosed.

International alcohol conglomerate Pernod Ricard has purchased a minority stake in Almave, the first non-alcoholic blue agave spirit distilled in Jalisco, Mexico. The acquisition addresses both widespread international demand for agave spirits—mostly tequila and mezcal—and non-alcoholic products. Financial terms of the transaction were not disclosed. Artisans in Jalisco craft Almave without fermentation. The process captures some of the hallmarks of agave spirits, but without the alcohol. Almave comes in two expressions: Blanco, which is ideal for mixing; and Ambar, perfect for sipping as well as mixing. Due to Pernod Ricard’s global distribution network, the company hopes to quickly scale Almave to markets across the globe.