Launch NY has invested $175,000 in Edenesque (founded in 2014), a plant-based dairy startup led by CEO Leslie Woodward. Not only will the investment allow Woodward to help to realize her goal of becoming a $15 million company within five years, it will also see Edenesque (and Woodward) relocate to Buffalo.
Launch NY – the first and only venture development organization to provide capital access and pro bono mentoring to high-growth startups in Upstate New YORK – believes that the plant-based dairy startup, previously based in the Hudson Valley, has what it takes to grow exponentially in WNY. This is partially due to the proximity of regional resources that include Edenesque’s new contract manufacturing partner, Elmhurst Dairy, and its main distribution partner, Sonwil Logistics.
Launch NY is the most active seed funder in New York state based on the volume of investments made into startups from its InvestLocal financing programs.
Edenesque – a black-owned and woman founded business – was born of Woodward’s passion for the culinary world. Woodward spent 20 years as a chef in NYC, where she trained at Restaurant Daniel, was executive chef at Columbia University’s President’s House, and then worked privately for high-net worth individuals, according to Launch NY. Eventually, she parlayed her skills into crafting plant-based non-dairy Consumer Packaged Goods (CPG), with the tagline Be the Love — nourishing themselves, their communities, the environment, and their local economy.
Incredibly, most plant- based milks are typically just 2% nuts and filled with non-natural thickeners and stabilizers. Edenesque’s almond and oat milks are gluten-free, vegan, and bring a unique combination of nutrient density and flavor, with no thickeners or stabilizers. Woodward not only delivers the wholesome goods, she has also set out to address the disconnect between the pervasive disconnect between marketing and reality within the industry.
Launch NY is here to help, by facilitating the relocation of Edenesque’s headquarters to WNY, while providing the following capital investments:
$75,000 from Launch NY’s nonprofit seed fund
$100,000 from its new for-profit LP Fund II
$50,000 from the NY Ventures State Small Business Credit Initiative (SSBCI), which matches against Launch NY’s LP Fund II investment vehicle
“Launch NY’s mission is to drive inclusive economic prosperity, so we are extremely proud to be adding yet another underrepresented founder to our portfolio, as Leslie moves her headquarters to Buffalo and embarks on plans for significant growth,” said Marnie LaVigne, Ph.D., president and CEO of Launch NY, whose involvement with Edenesque started with Launch NY’s Founders Go Big program, which engages startup founders from underrepresented communities and provides them with mentorship, business resources, and investment. “This is a huge win for our region as it will bring high-quality jobs to Buffalo, increase its diversity of startup founders and support a health-conscious product that is good for our bodies and the environment.”
Edenesque is sold in retail stories throughout Brooklyn and Manhattan, has a presence in corporate offices such as Calvin Klein and Estée Lauder, and is sold at restaurants and cafés in New York City.
It is interesting to note that less than .5% of venture capital invested in the U.S. last year went to Black, women founders. Launch NY hopes to identify and empower qualified Black, women founders, by promoting racial and gender diversity in entrepreneurship. To that end, Edenesque will be featured in the coming weeks on Launch NY’s Investor Network, giving its 320 members a chance to further invest in the company. Edenesque is also participating in the University at Buffalo’s Cultivator accelerator program.
In the end, Buffalo will be a huge benefactor, with the growth of Edenesque, and the immersion of its products into the NYS economy, and beyond.
“There is tremendous consumer demand in the non-dairy CPG market right now, and Edenesque has a unique opportunity to present a product that lives up to customer expectations in both nutrition and taste,” Woodward said. “We are absolutely thrilled to enact this vision in our new hometown of Buffalo. Launch NY’s investment and mentorship have been essential in turning this vision into a reality.”
Edenesque products currently have a strong presence in NYC, and will be stocked on the shelves at Whole Foods this summer. Moving forward, marketing efforts will also be focused on the WNY area, including retail outlets, cafés, and restaurants. In tandem with that growth in the WNY market, the company will be ramping up its local employee base, starting with a chief of staff and sales personnel.
And don’t forget… Be the Love — nourishing themselves, their communities, the environment, and their local economy. These corporate beliefs sound like everything that could bolster Buffalo. Keep up the good work Launch NY.
Get connected: www.edenesque.com
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