US-based protein bar brand David has successfully raised $75 million in a Series A funding round aimed at scaling its food manufacturing capabilities.
This funding round was led by the esteemed investment firm Greenoaks, with significant participation from Valor Equity Partners.
According to a statement from David, the newly acquired capital will not only support manufacturing but also accelerate product development and expand inventory. This expansion aims to meet the increasing demand for its protein-bar products.
Co-founder and CEO Peter Rahal stated, “Our mission is simple: to remove unnecessary calories and sugar from the American diet and replace them with what the body actually needs, which is high-quality protein.”
He continued, “We’re building tools that make it easier to eat well without compromise. The response to David has been overwhelming, and this funding allows us to scale faster and stay focused on our mission of providing solutions to support and improve people’s health and wellbeing.”
Additionally, David has acquired food ingredient supplier Epogee, known for its innovative plant-based fat alternative, EPG.
This ingredient significantly reduces calories and fat without compromising taste or texture, according to the company.
Rahal emphasized, “Acquiring Epogee strengthens our ability to scale by securing a key ingredient that helps us reduce calories and fat without compromising taste. This is about gaining control over our supply chain to move faster, stay true to our mission, and deliver food that improves health.”
In September, David launched its flagship product, characterized by having the “highest protein-to-calorie ratio on the market.” This protein bar features 28 grams of protein, zero sugar, and just 150 calories.
Since its debut, David has expanded its footprint to over 3,000 retail locations across the United States, including a recent partnership with Wegmans.
The company anticipates reporting over $100 million in revenue within its first year of commercial operations.
In August, David secured an additional $10 million in a seed funding round, with notable investors such as Dr. Layne Norton, Dr. Andrew Huberman, and Dr. Peter Attia, who serves as the company’s chief science officer.