Organic snack producer SMPL has been backed by Zell Founders Fund, a VC vehicle run by University of Michigan students.
SMPL, a US-based organic snack producer founded by an alumnus of University of Michigan, secured $100,000 of capital on Tuesday from Zell Founders Fund, a VC vehicle run by students from the university.
Founded in 2016, SMPL has formulated a range of bite-sized organic snacks called Proteinbits geared towards the lifestyle preferences of the modern, health-conscious consumer.
The recipe is a blend of fruit, nuts and superfoods that has been positioned as a wholesome food rather than a sports nutrition snack.
SMPL already sells Proteinbits across University of Michigan’s campus and throughout metropolitan Detroit. It has also secured distribution agreements in New York City.
The capital will be used to further enhance SMPL’s distribution while also supporting efforts to double down on branding and marketing. SMPL was founded by Ellis Fried, who received a BA from University of Michigan in economics and entrepreneurship.
Max Balthazar, a Michigan MBA graduate who performed due diligence on the deal, said: “Part of what impressed us about SMPL was Ellis’s different approach to the market, and how willing he was to help us understand his business model and listen to the advice we had for how to make it a true success.”
