Editor’s note: This is one of our Startups to Watch of 2022. See the rest here.
Sarah Frimpong knows the art of the pandemic pivot. The founder and CEO of Wellfound Foods switched gears when wholesale distribution of the company’s grab-and-go snacks came to a screeching halt in 2020. Before Covid, those sales accounted for the majority of her business, which involved daily deliveries to more than 50 locations across the region.
But she adapted the model to lean more heavily on her “smart fridges,” vending machines that dispense prepared foods. And she hasn’t looked back after that.
Now the company is charging into 2022 with an oversubscribed $1.4 million bridge round, after closing a $600,000 seed raise at the end of 2020. The latest round was led by angel investor Khushali Shah. The Steed Family Office, led by Paladin Capital Group founder Michael Steed, and early-stage investor network Citrine Angels participated in the raise. D.C. accelerator MassLight Inc. — a software…
Read the full story from the Washington Business Journal.
