DMG Ventures opts for sweet investment with upcycling start-up Blue Stripes [Video]

DMG Ventures, the venture capital arm of DMG Media, has invested in US start-up Blue Stripes as part of a Series B found led by foodtech fund Zintinus.

Blue Stripes upcycles the whole fruit cacao, about 70% of which is discarded by chocolate makers, to make more than 20 products, including cacao water, chocolate bars, trail mixes and granola.

The company’s products are available in more than 1,500 largely premium retail stores in the US and are now rolling out to major, mainstream supermarkets stateside. Strategic investors in Blue Stripes include Whole Foods and Hershey’s.

“The driving decision behind why we invested in Blue Stripes was the fantastic taste of its products and their nutritional benefit.

“If consumers are to buy-into the environmental and sustainable mission of a company, we believe they must love experiencing the product,” said Rachel Muzyczka of DMG Ventures.

An estimated $1tn worth of food is wasted each year, and …