# Spero Foods

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spero-foods

- Industry: Food
- Headquarters: San Jose, US
- Website: www.sperofoods.co
- Total disclosed funding: $0.1M
- Latest round: Series A (Jun 17, 2020)
- Investors on record: 4

## About

Spero Foods, Inc. specializes in plant-based food products, focusing on creating sustainable and innovative alternatives for consumers seeking healthier dietary options. The company leverages technology to transform traditional food experiences.Founded in 2016 and headquartered in San Jose, US, Spero Foods, Inc. is dedicated to developing plant-based food alternatives. The company has not undergone significant pivots since its inception. Its founder, Phaedra Randolph, who serves as the CEO, has a background in food innovation. In May 2021, Spero Foods raised USD 8.17 mn in funding from Alumni Ventures Group, bringing their total amount raised to USD 8.17 mn over 5 deals.Spero Foods offers a range of plant-based food products that cater to health-conscious consumers. Their innovative offerings include alternatives to dairy and other traditional food items, emphasizing sustainability and nutrition. The company focuses on creating products that are accessible and appealing to a broad audience, enhancing the overall eating experience for individuals seeking plant-based options.Spero Foods generates revenue primarily through the sale of its plant-based food products to retailers and directly to consumers. The company's revenue model includes a variety of pricing strategies based on product categories, aimed at maximizing customer engagement and retention. Specific pricing details are not disclosed, but the company focuses on providing high-quality alternatives to traditional food items, which encourages repeat purchases.Spero Foods plans to launch several new plant-based products by the end of 2023, targeting innovative alternatives that meet rising consumer demand. The company aims to expand its market presence beyond the US, with particular focus on entering European markets by 2024. The recent funding of USD 8.17 mn will be utilized to support product development and market expansion initiatives, enhancing Spero’s capabilities to reach a broader audience and fulfill growing demand for plant-based foods.

## Funding rounds

- Series A, Jun 17, 2020 — Alumni Ventures Group
- Seed, Mar 1, 2019 — Soma Capital, Litani Ventures
- Seed, Aug 4, 2018, $0.1M — Y Combinator

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Soma Capital — Seed
- Litani Ventures (https://capitalatlas.ai/funds/litani-ventures) — Seed
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series A