SAN FRANCISCO — RightRice, which develops a rice grain that’s made of vegetables, has closed $5.5 million in funding with a minority investment led by Strand Equity. The investment also includes the participation of a celebrity network of investors in food, retail, music, media, sports and entertainment.
Celebrity investors include Ashley Graham, Karlie Kloss, Kris Jenner, Wesley Pentz (Diplo), Molly Sims, Jillian Michaels and Ryan Tedder. CPG entrepreneurs, founders and industry veterans who invested include Gary Friedman (Restoration Hardware, CEO), David Lee (Impossible Foods, COO), Gary Vaynerchuk (VaynerMedia, CEO), Joey Zwillinger (Allbirds, co-founder), Dave Gilboa (Warby Parker, co-founder), Andrew McInnes (TMWRK, CEO) and Jay Brown (Roc Nation, CEO).
RightRice is available exclusively in Whole Foods Markets nationally and on Amazon.com.
Created by popchips founder and former CEO Keith Belling, RightRice recently launched exclusively in Whole Foods Markets nationwide and on Amazon as one of the first brands ever to launch in collaboration with both Whole Foods Market and Amazon. RightRice is the first-of-its-kind shelf stable vegetable grain with a blend of over 90 percent nutritious vegetables that delivers on both taste and nutrition, and comes in Original and three savory, already seasoned flavors.
“We are thrilled that Seth Rodsky and Strand wanted to lead our round, and that so many tastemakers and industry leaders shared my vision for RightRice. The funding and support of such a talented and influential network of investors will help drive RightRice’s growth and mission to transform the rice category,” said Keith Belling, the founder and CEO of RightRice.
Strand Equity is a leading growth equity firm investing in the next generation of iconic consumer brands. Strand partners with emerging brands to scale their businesses through its marketing and operational expertise, as well as its extensive network of industry relationships. Current and realized investments include Bai Brands, HIPPEAS, HUM Nutrition, Vita Coco, Dos Toros, Chopt, Youth To The People, and Wander Beauty. Accel Foods also participated in the financing.
“RightRice is redefining a massive category that has seen little or no innovation, and is one of the most compelling brands and product propositions we’ve seen. We were excited for the chance to invest in Keith, who has proven to be an innovator and category creator,” said Seth Rodsky, Co-Founder and Managing Partner of Strand Equity.
“For me, RightRice is more than just a great investment. It’s a chance for me to further the movement in plant-based eating. I’m thrilled to support Keith’s vision to reinvent a category,” said David Lee, COO of Impossible Foods.