Good Good to raise a $20 million Series B round of investments led by SÍA

Good Good, a Reykjavik, Iceland-based health-food brand, announced a $20 million series B equity round.

The money was raised from investors led by SÍA, a private equity group in Iceland, along with additional private investors whose name remained undisclosed.

The proceeds will be used as the company is scaling its operations and needs to augment its product development and marketing efforts.

Good Good, operated by Via Health and led by CEO Garðar Stefánsson, Agnar Lemacks and Johann Kristjansson, was founded in 2015 as a producer of stevia drops for the Icelandic market. Since then the company transitioned to developing and producing food products without added sugar, that are diabetic-friendly and made with natural ingredients.

Its roster of products, which now includes multiple flavors of jams, spreads, keto bars, syrups, and natural sweeteners, can be found globally at 10,000+ physical retail locations in Europe and US, on various online retailer sites – including Amazon.com and Walmart.com – and on its own website. The company says that it also recently acquired distribution into 3,500 Walmart locations with its line of Strawberry and Raspberry Jams, Concord Grape Jelly, and Chocolate Spread.

Prior to this round, Good Good raised series A closed at $3 million in 2020, followed up by an $2 million extension secured at the end of 2021 from investors including Icepharma, K2B Investments, and Aton.JL.