NEW YORK — Parmela Creamery, maker of cultured, plant-based cheeses, has raised $1.25 million in a Series Seed financing round led by 25Madison.
Launched in 2014 by co-founders Ry Salomone and Laurice Do, Parmela’s product portfolio includes a range of Non-GMO Project verified nut cheeses cultured from whole cashew milk. The company offers slices, shreds, blocks, spreads and sauces. Parmela products are available in retailers, including Whole Foods Market stores, Publix Super Markets, Wegman’s and King Soopers.
“The plant-based foods industry is seeing tremendous growth,” said Steven Price, co-founder and chief executive officer of 25Madison. “Parmela will be a national leader in the plant-based cheese category by continuing to focus on its craft process, superior ingredients and sustainability. We are thrilled to partner with Ry, Laurice and the Parmela team to accelerate their next phase of growth.”
New York-based 25Madison is a start-up studio and innovation hub focused on accelerating early stage and new business concepts. The company’s investment portfolio includes The Great American Turkey Co., Bou and MUD/WTR.
Also investing in the funding round was Gather Ventures, an early-stage fund that provides capital and entrepreneurial experience for companies “driving the shift from animal to plant-based food consumption,” the company said.
“25Madison and Gather Ventures are a perfect match for Parmela,” Mr. Salomone said. “Their deep knowledge in the food space, serious appreciation for innovative plant-based foods and extensive industry network greatly impressed me. Our vision at Parmela is to honor the heritage of traditional cheese making while supporting a healthier, sustainable future. These visionary partners offer the operating experience and deep connections to help deliver on this vision at scale.”