HALIFAX, NS, Sept. 10, 2024 /CNW/ - Sperri, Canada's first organic and allergen-free plant-based meal replacement beverage, announces a new investment to support its expansion into the United States and drive new product innovation led by investor Nàdarra Ventures and supported by Invest Nova Scotia.
Sperri, a Halifax-based company, is at the forefront of disrupting the food and beverage industry, driven by the philosophy that food is medicine. Sperri co-founders, Gregg Curwin, President & CEO of Novagevity, and Dr. Mary Lynch, physician and pain management specialist, collaborated to blend science and innovation to meet the nutrition needs of consumers.
Dr. Lynch observed that many of her patients required meal replacements to access proper nutrition, but struggled to tolerate existing options due to high levels of processed sugars, dairy, gluten and soy protein. Collaborating with Curwin, an experienced entrepreneur, Sperri was created with the mission of helping people get well and stay well.
"Our products are grounded in scientific research leading to effective medical nutrition, and the ethos of Sperri is to inspire change within our conventional healthcare systems," says Curwin. "We are rooted in the belief that food is medicine, and that not only Nova Scotians, but everyone throughout North America, needs that more than ever. Sperri products are designed to be accessible, affordable, and effective, ultimately becoming a major benefit to Primary Care treatment, in a time of critical need to relieve pressure from our healthcare system."
Born out of the Sobey School of Business at Saint Mary's University in Halifax, Sperri has deep roots throughout Nova Scotia, with the beverage's name sake inspired by Sperry Beach, located on the South Shore of the province. Sperri has received overwhelming local support, with independent NS investors, industry executives, and members of the pharmaceutical industry also participating in the raise, alongside Invest Nova Scotia and Nàdarra Ventures.
Nàdarra Ventures, a Canadian early-stage venture capital fund focused on accelerating sustainable biotechnology in the areas of agriculture, food, and materials, is the lead investor for Sperri's launch into the US Market.
"We are very excited about the positive health impact and market traction that Novagevity is gaining with the Sperri product suite," says Nàdarra Ventures Managing Partner Malcolm Fraser. "This investment represents our focus on sustainable, natural product innovations that create industry leading returns, while generating measurable impacts on the health of our population and planet. We believe the combination of Novagevity's experienced team with a track record of success; and recent policy changes designed to leverage nutrition to address major health issues in our population create a strategic market opportunity for the company's continued success."
Invest Nova Scotia, the province's business development agency, is also supporting Sperri's expansion into the US Market alongside lead investor, Nàdarra Ventures. Invest Nova Scotia provides capital, export services, and facilities to help start-ups succeed, like The Labs at Invest Nova Scotia, where Novagevity operates.
"Invest Nova Scotia is excited to support Novagevity in expanding its impact. Novagevity's plant-based, ready-to-drink meal replacement is designed by health experts to promote recovery and well-being using natural ingredients and is free from all major allergens," says Jennifer Fuccillo, Investment Principal, Invest Nova Scotia. "Food innovation is key to public health, and Novagevity is leading the way."
Sperri plans to use the funds to pursue their expansion into the American market, beginning with launching direct-to-consumer through their new marketplace on Amazon US.
About Sperri
Founded in 2019 by Gregg Curwin, Novagevity President & CEO and Dr. Mary Lynch, physician and pain management specialist, Sperri is at the forefront of delivering medical nutrition in an affordable, accessible, and innovative way.
Designed by a team of physicians, dietitians and health specialists, Sperri is Canada's first plant-based meal replacement, designed to help people get well and stay well. The plant-based beverage supports those struggling to consume a balanced diet by providing an alternative organic product that is free of gluten, dairy, preservatives and artificial ingredients.
Sperri is available for purchase through Loblaws, Sobeys, Amazon, various independent retailers and online at Sperri.ca.
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