Vegan Chickpea Snack Brand Raises $10 Million

Vegan brand HIPPEAS announced last week that it had closed a $10 million investment from CAVU Capital Partners. The company makes extruded organic chickpea-based puffs in five flavors—including Vegan White Cheddar, Sriracha Sunshine, and Far Out Fajita—and is currently available at more than 100,000 distribution points such as Starbucks, Whole Foods Market, and a number of markets in the United Kingdom. HIPPEAS plans to use the investment to continue expansion into new retail outlets such as Target and Costco, which will carry larger sized bags and multi-packs. “I think next year we could probably do $5 million on Amazon,” HIPPEAS founder Livio Bisterzo told media outlet Foodnavigator, “which is pretty amazing.” Earlier this year, the company—which reported earning $1 million in revenue for the month of September—secured an investment for an undisclosed amount from actor Leonardo DiCaprio.