Austin-based brand Siete Family Foods, makers of dairy-free queso, has raised $90 million to expand distribution and create new products.
“We are passionate about making food that brings people together. This investment is going to provide us the resources to keep expanding, while remaining true to our core values as a family and company,” Miguel Garza, Siete Family Foods co-founder and CEO, said in a statement.
The company currently makes two vegan cashew-based queso dips in the flavors Spicy Nacho and Spicy Blanco. It also makes grain-free tortillas and tortilla chips from flour like cashew, almond, cassava, and chickpea. Its products are currently available in 4,400 stores across the nation.
“Customers are going to be seeing even more of Siete as we continue to innovate and develop new products in our growing line of better-for-you Mexican-American food,” Garza added.
The funding was led by NYC-based investment firm, Stripes Group, which invested in vegan milk brand Califia Farms last July.
“We have been close to the Garzas and the Siete story for two years, starting first as loyal customers, fans and friends,” said Stripes Group Partner, Karen Kenworthy. “Siete’s celebration of family and Mexican-American heritage has created a truly organic brand ethos that connects to a broad audience.”
Siete was founded by siblings Veronica and Miguel Garza and their mother Aida in 2014. After being diagnosed with multiple autoimmune disorders, Veronica adopted a grain-free, low-inflammation diet to help manage her symptoms.
Born and raised in a Mexican-American family in South Texas, she still wanted to enjoy tacos and fajitas without having to resort to using lettuce leaves. With the support of her family, she began experimenting with grain-free alternatives in her home kitchen and created Siete’s first product, an almond flour tortilla.
“My family has put everything into creating Siete, and we are so grateful for this investment and the opportunity to share the foods that we love to impact even more people,” said Veronica, co-founder, president, and chief innovation officer of Siete.
Gluten-free, vegan snacks are becoming increasingly popular thanks to the rising demand for “better-for-you” and plant-based food. Brands like Siete, Plant Snacks, Vegan Rob’s, and The Real Coconut are gaining an increased presence in grocery stores across the country.