News in brief
Veggie Fries maker closes $4.5m financing round
Boston-based Farmwise – which makes Veggie Fries – has closed a $4.5m financing round led by Cleveland Avenue, the venture capital firm founded by former McDonald’s president Don Thompson, with participation from meat products maker Home Market Foods.
Founded in 2014 by Dave and Cristina Peters, Farmwise frozen products - Veggie Fries, Veggie Tots, and Veggie Rings – are manufactured using a proprietary, patent-pending process, and contain a blend of beans, veggies and potatoes. They now available in 8,000 stores across the US.
“Our Cleveland Avenue investment philosophy is to search for emerging companies that have potential for mainstream success across multiple channels," said Thompson.
"What Dave and Cristina have achieved in just four short years is impressive.”
