Carbon Neutral Oat Milk Maker Nude Bags $5 Million Series A to Expand Across Latin America
Latin America’s (LATAM) first carbon-neutral food company, Nude, has closed a Series A funding round. $5 million was raised by multiple investors, led by Vox Capital and Lever VC. Other notable participants include Endeavor Scale-Up Ventures and Mexico’s Angel Ventures. Funding brings the company’s valuation to $22.5 million. Funding will be used to increase production and develop new lines.
Nude was launched in São Paulo in December 2020. Founders Giovanna Meneghel and Alexander Appel set out to bring emissions transparency to food production. Neutralising the company’s own footprint was a priority from inception. Vox Capital leading the latest funding round represents a significant milestone. It has not invested in any food tech companies until now, historically homing in on climate change initiatives. Nude qualifies as both.
Photo courtesy of Michael Callaghan.