Good Good, a model of Icelandic snacks and pantry staples, has closed a $20 million Collection B funding spherical led by SÍA, a non-public fairness group in Iceland, together with extra non-public traders.

Based in 2015, Good Good markets a line of jams, spreads, vitamin bars, syrups and sweeteners formulated with no added sugar. The merchandise can be found on-line at Amazon.com, Walmart.com and goodgoodbrand.com and at greater than 10,000 retail areas in 36 international locations. The model lately gained distribution for its strawberry and raspberry jams, harmony grape jelly and chocolate unfold in 3,500 Walmart areas.

“Since its inception six years in the past, Good Good’s income has greater than doubled every year,” stated Johann Ingi Kristjansson, co-founder and chairman of the board of Good Good. “For this Collection B spherical, an emphasis was positioned on strengthening the Good Good shareholder group for the longer term. We’re very happy with the progress of the share capital enhance and that the demand from traders has far exceeded our expectations. This funding strengthens the corporate’s basis for continued development, particularly in the US, on-line gross sales and different overseas markets.”

Good Good has expanded its group in Iceland, the US and The Netherlands in current months. The brand new funding will assist product improvement and advertising efforts, in keeping with the corporate. Its newest launch is a low-carbohydrate peanut butter unfold made with chicory root fibre.

“We first met the Good Good group in 2019 and have been impressed by their preliminary success and data-driven strategy,” stated Heidar Ingi Olafsson, managing director of SÍA IV. “Having saved a watch on the corporate since, we’ve been thrilled with their capacity to innovate and execute on their model imaginative and prescient. We’re excited to have participated in Good Good’s current share providing and sit up for working with its co-founders, Agnar, Gardar and Jóhann, to convey the enterprise to its full potential.”