True Gum secured €1 million from Germany's VC Oyster Bay
True Gum, a Copenhagen, Denmark-based producer of natural chewing gums, announced that it completed a €1 million ($1.2M) capital funding round.
The money was provided by investors including the Hamburg, Germany-based VC, Oyster Bay, which invests in food and beverage consumer startups. The funding will be used for product development, marketing and distribution.
True Gum, founded in 2017 by CEO Morten Ebdrup, Jacob Sand Motzfeldt, Zabrina Ziegler and Peter Juul Regnersgaard, built a food business that produces and sells all-natural chewing gums. The company is selling via 10,000 European retail outlets in 14 countries, and entered the German market in 2019 as it made a deal with country's largest retail chain Drogerie Markt.
Prior to this round, True Gum was backed by angel investors from Denmark, including Michael Andersen and Jeppe Christensen.