June 12, 2018

Food giant Kellogg's invests in Woodbridge energy bar company

Photo | Contributed
Photo | Contributed
Woodbridge-based UCAN specializes in nutrition products that provide a slow release of energy. The company recently raised $5.75 million in a financing round led by Kellogg's venture capital arm.

Woodbridge-based UCAN, which makes and distributes slow-release energy bars and powdered energy drinks, said it has raised $5.75 million in a financing round led by the venture capital arm of food industry giant Kellogg's.

Simon Burton, managing director of Kellogg Co.'s eighteen94 capital, will join the company's board of directors, UCAN said.

"Investment in UCAN is a tremendous addition to eighteen94 capital's portfolio," said Gary Pilnick, Kellogg Co. vice chairman and eighteen94 capital executive officer. "It is a unique, interruptive business with an impressive team and a truly differentiated product."

S2G Ventures also invested in the round.

UCAN specializes in nutrition products that provide a slow release of complex carbohydrates aimed at avoiding blood sugar spikes and crashes.

Its patented ingredient, SuperStarch, provides long-lasting energy without sugar, caffeine or stimulants, the company said.

UCAN said it will use the financing to expand its reach in the endurance athlete and active lifestyle consumer markets.

"We are excited that this new round of financing will help us expand awareness of our products and let many more consumers know that UCAN's unique energy source SuperStarch provides fuel to the body without sugar," UCAN CEO Shoba Murali said in a statement.

Kellogg said it launched the venture capital fund in 2016 to invest in startups "pioneering new ingredients, foods, packaging and enabling technology."

Reach Natalie Missakian at news@newhavenbiz.com

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