Blume secures CAD 2m in oversubscribed raise

Canadian superfood company, Blume, has secured CAD 2 million (approx. $1.6 million) in an oversubscribed capital raise.

The company plans to use the funds to further expand in the US market, grow its team and host in-person, community-building events.

Founded in 2017, Blume is a superfood brand that offers locally made products with natural and organic ingredients, such as turmeric, reishi and more. Over the past year, Blume says that it has scaled its team to 12 employees and landed in all Whole Foods locations across Canada.

The round included participation from Fulmer & Co; Judy Brooks, executive chairman of SmartSweets; Mike Fata, founder of Manitoba Harvest; and others. 

Karen Danudjaja, co-founder of Blume, said: “We originally set out to raise CAD 1.25 million and we’re thrilled to have surpassed our goal within a five-week period, while in an extremely challenging economic climate for raising capital. With less than 3% of funding going to female-led businesses, we’re proud to have secured capital from a group of investors that is nearly 50% women and includes notable CPG leaders.”

She continued: “Now we are excited to strategically utilise this new capital to further Blume’s momentum in the market and build a company that is value-driven and focused on the needs and wants of our community”.