Healthier snacking challenger Boundless has raised £1.5m to cement its position as the UK’s number one brand for gut health snacks.
Cathy Moseley founded the business in 2017, launching a range of ‘activated’ crisps, nuts and seeds aimed at improving gut health.
Boundless secured £650k in backing from institutional investors and angels in 2022, with Graze co-founder Ben Jones joining the board as part of the raise.
Jones followed on his investment in the current round, alongside other existing and new backers.
Boundless will use the raise to maintain current rapid growth levels, with cash earmarked to further build brand awareness as well as supporting new and current listings.
“I’m incredibly proud to announce Boundless as the UK’s number one gut health bagged snack, having contributed to 13% of the better-for-you crisp growth, and driving penetration where this key metric is in decline at a category level,” Moseley said.
“Boundless’ market share is growing faster than the category in major retailers, at 5.1% versus 0.2%. With our current trajectory, Boundless is on its way to owning 1% of the better-for-you category by the end of the financial year.”
The company added its retail value sales had grown by 110.2% year on year, with volumes up by 171%.
Boundless’ product range is stocked by Lidl, Holland & Barrett, Ocado, WH Smith and more than 3,000 independent stockists nationwide, with foodservice distribution also increasing by more than 2,000% following wins with Bidfood, Brakes and Foodbuy.
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