Participated · Seed · Aug 2024

Great Wrap makes fully compostable machine pallet wrap (and previously sold a consumer compostable cling wrap) certified by the Australasian Bioplastics Association. Its wrap is made from compostable biopolymers and plant-based oils, delivers up to 250% pre-stretch, and is denser and stronger than traditional wrap so customers can reduce thickness. The company is B‑Corp certified and has shifted focus from a consumer subscription service to B2B, targeting pallet-wrap waste in supply chains. Great Wrap recently scaled production by moving from the Mornington Peninsula to a larger facility in Tullamarine after a prior funding round. It has partnered with Opal ANZ to add its compostable pallet wrap to Opal Packaging Plus and to leverage Opal’s distribution. The business aims to produce 5,000 tonnes of certified compostable machine pallet wrap as part of efforts to divert traditional plastic from landfills. Great Wrap produces a range of compostable stretch wraps — Cling Wrap, Catering Wrap and Pallet Wrap — made from potato processing waste and a PHA biopolymer. The company first commercialised its wrap in 2020 and moved into its first facility in 2021. After closing a $24 million funding package, Great Wrap expanded into a new 12,000 sqm Tullamarine facility with capacity to manufacture 30,000 tonnes of compostable stretch wrap by the end of 2023. Phase two plans include commissioning an on-site biorefinery to produce PHA from local potato waste, expected in 2023, with capacity to upcycle nearly 50,000 tonnes of waste annually. The expansion is expected to create about 100 jobs in Victoria. Great Wrap is pursuing vertical integration to source local waste from a major potato processor and is working on collection solutions with Australian industrial composting facilities for pallet wrap end-of-life. Co-founders Jordy and Julia Kay say the equity raise will support product growth, team expansion, R&D and international market launches.

Led · Equity · Sep 2017

Aunt Fannie’s, led by founder & CEO Mat Franken, develops microbiomic household products and essential oil pest products. The company’s portfolio comprises 22 SKUs and it sells in more than 4,000 retailers across the United States and Canada, including Target, Bed Bath & Beyond, H‑E‑B and True Value. The recent financing will be used to accelerate growth of its home cleaning, pest, and personal care lineup and to launch innovations at Natural Products Expo West in early March. Aunt Fannie’s plans to add ten new SKUs to its lineup, which will be available at select retailers nationwide. Kay Hong, a longtime investor, was appointed to the company’s Board of Directors. To date the company has raised $10.5M in funding. Aunt Fannie’s is a Portland, Oregon-based provider of microbiomic cleaning and pest solutions for households, food service establishments, and food manufacturers. Led by CEO Mat Franken, the company offers a family of safe, non-toxic products including Cleaning Vinegar Wipes, Cleaning Vinegar Sprays, Floor Cleaner Vinegar Wash, and Glass & Window Vinegar Wash. Its products are rated “A” by the Environmental Working Group and have been scientifically evaluated on asthma/respiratory, skin allergies and irritation, developmental and reproductive toxicity, cancer, and environmental concern metrics. Aunt Fannie’s products are sold in more than 1,000 retailers nationwide, including Whole Foods, Bed Bath & Beyond, H-E-B Grocery Stores, and Hy-Vee throughout the United States and Canada. The company raised $2.5M in the latest round, bringing total funding to-date to more than $3M. No future product plans or financial projections were disclosed in the article.

Participated · Seed · Jan 2014

Drizly Group operates an online marketplace for beer, wine and spirits that provides a transparent shopping experience where consumers can compare stores on price, delivery time and overall rating. The company is led by CEO Cory Rellas and is based in Boston, MA. It operates in 235 markets across North America through a network of 3,300 independent and chain retail partners. Drizly also houses Lantern, an independently operated online cannabis commerce company launched in March. Lantern is currently operating in Massachusetts and Michigan. Drizly intends to use new funds to further accelerate product and customer growth. Drizly operates an on-demand delivery app that displays local store prices and delivery or pick-up options for beer, wine and spirits. The company partners with approximately 1,000 brick-and-mortar liquor stores across the U.S. and Canada and says deliveries arrive in less than an hour. Drizly recently completed a $34.5 million financing, roughly doubling its prior $33 million in total funding. Over the past year it has added a CMO, CFO and head of HR and in late summer shifted co-founder Nick Rellas into an advisory role while Cory Rellas became CEO. The company made its first acquisition in July, absorbing Buttery and integrating that startup’s backend technology and employees. Drizly says Cory’s operational experience and time at Bain Capital position him to lead the company through its next stage of growth. Drizly operates a marketplace and commerce platform that lets local liquor stores list beer, wine and spirits, showing shoppers local prices and delivery or pickup options via web and mobile. The company has shifted from an on-demand delivery model toward a metasearch‑style marketplace for alcohol e-commerce. Stores pay a monthly licensing fee to use Drizly’s software and sell through its platform; Drizly sets prices per market based on local spend and delivery costs. The company is using recent capital to build new features and services, expand into more US regional, suburban and rural markets, and roll out in-store pickup nationwide. Drizly also plans to develop personalized recommendations to engage different customer segments, such as corporate bulk buyers and wine enthusiasts. The business faces competition from general food e-commerce players and other alcohol-focused apps but cites legal and infrastructure advantages from four years of work. Drizly provides technology infrastructure and an e-commerce platform that enables liquor retailers to offer on-demand delivery and manage orders. Users can browse a wide variety of beer, wine and spirits and see delivery windows and prices from retail partners. Retail partners receive orders through Drizly and fulfill deliveries with their own staff, paying Drizly a slice of each transaction. Drizly Connect, launched earlier this summer, offers longer delivery windows up to 48 hours and positions the company as an Amazon Prime–like option for alcohol. According to CEO Nick Rellas, around 40% of orders on the platform are placed at least 36 hours in advance. The company currently serves 23 markets and is on pace to be in 30 markets, including some in Canada, by the end of the year. With this round, Drizly’s total funding stands at $32.8 million. Drizly operates a mobile app that lets users order spirits, beer and wine from local liquor stores and have them delivered. The system integrates with liquor stores' POS so orders flow directly to vendors for fulfillment, avoiding the need to build Drizly-owned delivery infrastructure. Drizly intentionally partners with stores that already offer delivery and charges vendors a monthly licensing fee that varies by location and transaction volume. The service is handling orders in the low tens of thousands each month and is reporting roughly 25% month-over-month growth across major markets. Drizly is currently live in multiple U.S. cities and aims to expand to about 30 markets by year-end. A partnership with the Wine & Spirits Wholesalers of America gives Drizly access to a network of wholesalers to help onboard more vendors.