Frontier Nutrition, a company specializing in affordable fortified snacks in Bangladesh. Frontier Nutrition has announced a significant $6 million Series B financing round led by Adjuvant Capital. Adjuvant Capital is a life sciences fund with support from the Bill & Melinda Gates Foundation. And the International Finance Corporation. The round also includes participation from DSG Consumer Partners, a prominent venture capital fund based in Singapore. And DSM Venturing, the investment arm of Royal DSM, the world’s largest producer of micronutrients. Notable individual investors such as Shazi Visram, Seth Goldman, Bridgette Heller, and Great Point Ventures have also joined the funding round.
The funding will enable Frontier Nutrition to expand its operations and pursue several key initiatives. This includes bringing the manufacturing of multiple products in-house and launching a comprehensive sales and marketing campaign to promote their consumer brand. “Hashi Khushi,” and developing new products suitable for research studies and international humanitarian efforts. As part of the financing, Michael Chang, principal at Adjuvant Capital, will join Frontier Nutrition’s Board of Directors.
Frontier Nutrition, founded by Eddie Bearnot and Tanveer Ali in 2016, focuses on creating affordable, fortified snacks that combat malnutrition. With each serving costing just $0.06. The company currently operates in Bangladesh under the brands “Hashi Khushi” and “Nutri+,”. Offering a range of fortified products, including lentil butter, chocolates, powdered drinks, and biscuits. These products are available in over 50,000 outlets across Bangladesh.
“Michael Chang of Adjuvant Capital emphasized the unique value of Frontier Nutrition’s offerings. Notably, these products are not only competitively priced but also meticulously tailored to the local palate. He expressed genuine excitement about actively contributing to the company’s growth and its noble mission to distribute these highly impactful products to women and children across Bangladesh.
Established in 2016, Frontier Nutrition has experienced substantial growth. Currently, the company boasts a diverse portfolio of 20 distinct products, all readily available at a vast network of 20,000 retail outlets spanning 20 different districts within Bangladesh.
To solidify its presence in the market, Frontier Nutrition has continually improved existing products and expanded its product line. Eddie Bearnot, one of the co-founders, underlined the paramount importance of diversifying their product range to cater to the multifaceted requirements of Bangladeshi consumers. Consequently, the company has been diligently working on augmenting its product portfolio, broadening its distribution footprint, and fortifying its manufacturing capabilities. The recent infusion of investment capital will serve as a catalyst for further investments, enabling the company to scale up manufacturing operations and extend its market reach.”