Health-focused food retailer Naked Rivals has raised $3 million after launching its product range in 1600 Australian locations within three months.
Naked Rivals, which launched in February, aims to expand outside the home market and retail channel. The company reported that it is now in negotiations with different global distributors and FMCG companies to expand its product range. The brand intends to reach more than $120 million in revenue in the future.
According to Naked Rivals, this is one of Australia’s largest startup deals this year, with funding from “a single ultra-high-net-worth family” via the Australian Investment Network.
“We are delighted to have secured this substantial capital investment. Our success is rooted in our ability to prove and demonstrate our global scaling ambitions,” said Andrew and Kate Gordon, co-founders of Naked Rivals.
“Additionally, we’ve sharpened our value proposition, centred around the theme of ‘convenience with a conscience’.”
Husband and wife duo Andrew and Kate Gordon launched The Naked Rivals after realising how difficult it was to balance good eating and sustainability with the demands of a hectic family life. The brands’ goal is to provide products with convenient, healthful ingredients while maintaining environmental ideals.
