Celebrity-Backed Immi Raises a $10 Million Series A For ‘Improbable’ Vegan Ramen
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The world’s first low-carb, high-protein, and 100 percent plant-based instant ramen brand, Immi, has announced a $10 million Series A funding round.
Immi’s investment was led by Touch Capital, with participation from celebrity investors, including Naomi Osaka, Usher, Apolo Ohno, David Grutman, Kygo’s Palm Tree Crew, and Gryffin.
‘Managing the improbable’
The investment was led by Touch Capital, which praised Immi’s success om managing “the improbable” by transforming instant ramen into a low-carb, high-protein, and plant-based product “that is just as crave-worthy as its classic comfort food predecessor.”
In a statement, Kevin Lee and Kevin Chanthasiriphan, Immi’s co-founders, said the funding enables the team “to further improve the quality of our products, expand retail distribution, bring down prices, and continue broadening access to nutritious and delicious Asian American food.”
Lee and Chanthasiriphan came up with the idea for Immi after seeing their families struggle with chronic, diet-related health conditions. Both grew up immersed in the farms and noodle stalls of their Taiwanese and Thai family food businesses.
Since launching two years ago, Immi has seen success for its three flavors – Black Garlic “Chicken,” Spicy “Beef,” and Tom Yum “Shrimp.” Last year, it moved from online sales into retail channels, including placement in Wegmans and Whole Foods, where it has seen strong growth.
Celebrity investors, including tennis great Naomi Osaka, singer Usher, and Olympian Apolo Ohno also expressed excitement about the investment.
Osaka said, “I’m excited to announce my investment in Immi, which has revolutionized the ramen industry with a low-carb, high-protein, plant-based, and delicious alternative to one of my favorite childhood foods.”
Usher said food, like music, “has always been at the center of culture, and I am excited to play a small part in this new wave of global flavors with Immi.”
“I value my nutrition and health more than anything else,” said Apolo Ohno, eight-time Olympic medalist, most decorated American Winter Olympian, U.S. Olympic Hall of Famer, “I’m excited to invest in Immi, which has allowed me to bring ramen back into my life again.”
Immi says the new funding will help it hire key leadership roles, support retail sales, operations, finance, product, and growth. The financing will also support product development research, as the brand plans to launch a series of new permanent and limited-time flavors, as well as co-branded partnership flavors.
The instant noodle industry has been growing in recent years; according to a report by Grand View Research, the global instant noodle market is expected to reach $45.67 billion by 2025 as demand for convenience food products, along with the rise in disposable income levels of consumers, both continue to rise. The plant-based food market is also expected to continue its ascent, reaching $74.2 billion by 2027, Grand View reports.