The Checkout: SnackMagic Launches CPGpulse; General Mills Invests In Women And Minority Entrepreneurs

SnackMagic Launches Consumer Insights and Brand Innovation Data Platform, CPGpulse

Customized snack and swag platform SnackMagic announced the launch of a new data platform, CPGpulse, that is capable of analyzing consumer taste preferences while offering comparison for brands to assess competition.

The platform allows brands to subscribe to five different segments: Trends & Rankings (free for all users); Brand Dossier (brand and product performance); Personalized, Interactive Dashboards (for interactive, customizable raw data); Reporting & Analysis (instant analysis of the brand’s SnackMagic sales); and Pullable Infographics.

“CPGpulse gives our customers the detailed data, analytics and insights to propel their brand forward,” said founder and CEO, Shaunak Amin, in a press release. “There is no platform collecting the unique data points that CPGpulse does: first-party data, qualitative data, sales data that comes from gift redemption, and data on an emerging brand universe. Brands on SnackMagic have the exposure and distribution, now it’s time to give them behind-the-scenes insights to supercharge their growth efforts.”

When the platform was in beta mode emerging brands utilized it to test out new SKUs while larger established companies saw it as a way to monitor product innovation, the company said. The platform also comes with an opt-in sampling function, SnackDrop, which distributes new SKUs for first-party reviews to consumers nationwide.

General Mills Invests $15 Million Into Minority and Female Entrepreneurs

General Mills venture capital arm 301INC announced this week it has invested $15 million into two early-stage VC funds: Fearless Fund and Supply Change Capital. The capital will go toward supporting early-stage food businesses founders from underrepresented demographic groups.

“We experience firsthand the expertise and passion of the diverse and female founders within our 301 INC portfolio, and yet there is a systemic gap for minority food entrepreneurs looking for early-stage venture capital funding,” said Doug Martin, chief brand and disruptive growth officer, General Mills. “Closing this gap means more great innovation in our food system — from new concepts to emerging food technologies — and more inclusive cycles of opportunity for entrepreneurs, companies and communities.”

The food giant restructured its own business last June to prioritize ‘disruptive growth’ within its corporate venture capabilities and reports that since then, about 80% of 301INC’s investments have been in minority-led or female-led food businesses including GrubMarket, Pet Plate and Everything Legendary.

“Food and food systems are at the heart of our culture and economy,” says Noramay Cadena, co-founder and managing partner, Supply Change Capital. “As the multicultural consumer population in the U.S. grows, we are focused on unlocking change in the venture ecosystem to infuse women and people of color with the capital they need to shape our future food landscape.”

Misfits Market Launches Private Label Pantry Staple Line “Odds & Ends”

Online grocery platform Misfits Market announced the launch of Odds & Ends, its private label line specifically designed around addressing supply chain inefficiencies, rather than affordability. The company has partnered directly with farmers and producers to source the coffee and snacks products like nuts, dried fruit and dark chocolate-covered mini pretzels.

“Misfits Market set out to rebuild the food supply chain from scratch in order to provide everyone, regardless of where they live, access to quality food at an affordable price,” said Abhi Ramesh, CEO and Founder of Misfits Market, in a press release. “After a record breaking quarter, it’s clear that shoppers are looking for new ways to save, especially with food prices at all-time highs.”

Ramesh said on average, Misfit Market customers save $25 per order and that while the new private label line is focused on sustainably sourced pantry staples, it also offers a wider range of affordable products. In the past quarter, the three-year-old company reported “record-breaking growth” following its expansion to all lower 48 states, the launch of a wine category and the debut of its mobile app.

Evol Launches First Carbonfree Certified Frozen Meal Line

Frozen food maker and Conagra portfolio brand Evol announced this week it has earned Carbonfree Certification for an 8-SKU meal line launching this summer. The new carbon neutral line features Truffle Parmesan Mac & Cheese, Fire Grilled Steak, Portabella & Goat Cheese Ravioli, Butternut Squash & Sage Ravioli, Chicken Enchilada Bake, Chipotle Chicken Mac & Cheese and Teriyaki Chicken products.

“Evol’s philosophy has always been rooted in making great tasting food while doing what’s right,” said Jill Dexter, VP and GM of Better-for-You and Family Meals at Conagra, in a press release. “The Certified Carbon Neutral status of these eight frozen meals is a visible step in our journey to help protect the environment.”

Beginning in June, the line will begin production at a new TRUE certified Zero Waste facility which means it has diverted an average of 90% or more waste from landfills in the last 12 months. The company claims this is the first certified carbon neutral line of single-serve frozen meals and is offsetting the line’s carbon footprint with investments in renewable wind energy and forest preservation projects.