“We are happy to be joined by new investors and continue with some long-term partners who have helped us get to this point,” said Abu Kamara, Grovara co-founder and CEO. “Grovara is transforming global commerce for U.S. consumer brands with the first B2B global marketplace for U.S. natural and organic brands.”
Financing for the startup B2B ecommerce company was led by David Pottruck, former Chairman of HighTower Advisors. Other investors who participated in the round for the startup business included SPINS, Bluestein Ventures, Spiral Sun Ventures, Siddhi Capital, CEAS Investments, and E and A Venture Capital LLC. The latest influx of capital will be used to onboard more brands and buyers for the B2B ecommerce startup company, further expanding the international network Grovara has built.
Connecting Healthy Brands to International Buyers
Grovara, launched in 2020 by Kamara and entrepreneur Peter Groverman, now claims to be the “largest B2B global marketplace for US natural and organic brands.” The Pennsylvania-based startup ecommerce company offers US businesses seeking to expand their brands to international markets a simple platform that easily navigates the intricacies of export documentation and registration.
Grovara’s business functions like an Amazon for international businesses, providing an ecommerce marketplace filled with a diverse range of healthy and organic foods and beverages from US brands. Buyers can sort items on offer from the startup business by wellness categories, such as gluten-free and fair-trade items, or utilize the built-in search function on the website. Products can be ordered by the case or pallet. Grovara even allows buyers to mix and match different items on the same pallet using a proprietary business algorithm that accounts for the physical dimensions of each item, ensuring that the pallet is completely full. The startup company expects to onboard 200 new wellness brands in 2021, as well as another 350 retailers.
In addition to selling wellness brands, the startup company also partners with Spins, a data analytics company focused on the natural products industry. The partnership allows Grovara to provide insights to companies looking to purchase new brands and help customers make informed decisions based on industry trends.
Tapping Into Demand for Natural and Organic Foods
Market research projects the global organic food and beverage market to reach $320.5 billion by 2025. Grovara targets a healthy industry as ecommerce businesses continue to experience growth. Even ecommerce leader Amazon bought into the organics market with its acquisition of Whole Foods in 2017. The startup company is poised to gain momentum as more US brands take the opportunity to go global.
“For as challenging as the last year has been, it has greatly accelerated wellness and digital transformation,” said Groverman. “Our online B2B global marketplace is positioned perfectly to shepherd this growth…”
About the Author
James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.