Pan-Atlantic sugar-free startup to bolster US growth with $3m round of funding

By Gill Hyslop contact

- Last updated on GMT

Good Good produces a range of diabetic and keto-friendly snacks, spreads and stevia drops. Pic: Good Good
Good Good produces a range of diabetic and keto-friendly snacks, spreads and stevia drops. Pic: Good Good

Related tags: Good Good, diabetic-friendly, keto, plant-based, no added sugar, Stevia, erythritol

Better-for-you Icelandic brand Good Good – which produces no sugar added products, including keto and diabetic-friendly snacks, spreads and stevia drops – has closed a Series A round of investment.

The $3m boost will strengthen the brand’s foothold in the US market, as well as further propel new product development and distribution nationwide.

Good Good was founded in 2015 when Gardar Stefansson, Agnar Lemacks and Johann Kristjansson were searching for a solution to cut the sugar intake for close relatives with Type 2 diabetes.

Replacing sugar with stevia and erythritol, the trio created a roster of products that deliver guilt-free treats for all consumers, including those following diabetic, keto or plant-based lifestyles.

The brand’s portfolio includes Crunchy Keto Bar snacks – in Liquorice and Salty Caramel Nut variants – jams, chocolate hazelnut spread, syrup, stevia drops, stevia tablets and an Erythritol & Stevia blend, that are suitable for at home baking. The natural sweeteners do not affect blood sugar, and contain zero calories and zero carbs.

Untapped potential

“This round of funding will be used to support Good Good’s growth as we expand our presence in the US,”​ said Stefansson, co-founder and CEO of Good Good.

“Our keto jams are currently the most sold keto jam in the United States; however, we still see a great deal of untapped potential for our brand in the market.

“Now, we will have the capacity to hire additional team members to add expertise in US distribution and bolster our marketing efforts for continued growth within the US.”

Good Good’s products can currently be found in approximately 2,500 stores in 16 countries, as well as online, on Amazon and Walmart.com (launching this June).

The products are manufactured in the Netherlands and Belgium, and distributed through warehouses in Tilburg in the Netherlands as well as Virginia in the US. Product design, sales and marketing, supply chain management and quality control is done from Iceland.

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