The marketplace for sustainable products is working with the venture capital group to expand its growth

NEW YORK, NY, USA, May 4, 2023/EINPresswire.com/ -- Hive Brands, a sustainable online grocery store, announced today that it has closed a Series Seed 3 round with Forecast Labs, a New York City-based venture group that’s a division of Comcast. Previously, Hive Brands has raised more than $12 million in funding. Forecast Labs, a consumer-focused venture group, has helped shape a variety of direct to consumer companies including FabFitFun and Tovala.

Forecast Labs brings a first-of-its-kind venture model to further accelerate the growth of Hive Brands. Founded in 2020, Hive serves a dedicated audience of consumers who prioritize sustainability when it comes to the groceries and household items they buy. In their online shop, Hive offers more than 2,500 household staples, each of them vetted for specific sustainability criteria and personally tested by the Hive team for efficacy. Their goal is to empower customers to vote with their dollars through providing a shopping experience in which customers can be confident every choice is a sustainable one; Hive has already done the work for them. With their questions around a product’s sustainability answered, shoppers can transform their grocery shopping to make an impact with every purchase.

“We know it can be difficult and time consuming as a consumer to read labels and research brands to understand what you’re actually supporting with your purchases,” said Katie Tyson, Co-Founder and President at Hive Brands. “We started with groceries because that’s a universal need and we wanted to make it as easy as possible to ‘Buy what you believe in.’ We’re helping people become better shoppers and helping them discover emerging brands that are setting new standards for what it means to operate in a sustainable way.”

The timing of this investment echoes an increased cultural push for corporations and their vendors to care more deeply about the future of the planet.

“We greatly admire what Hive Brands has built in a short period of time,” said Arjun Kapur, Managing Director at Forecast Labs. “People have become increasingly aware of the impact their day-to-day decisions have on the environment and desire to pursue a more sustainable lifestyle; however, it’s challenging to know what is and is not truly sustainable and impactful. Hive has introduced a fresh path for people to cut through the noise and genuinely find brands that follow sustainable practices. We are eager to share Hive’s mission with more people.”

Press at Hive Brands
Hive Brands
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Hive Brands: Founder's Story

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