RICHMOND, CALIF. — Lotus Foods has received a $22.5 million investment from Grounded Capital, a San Francisco-based investment firm. With the investment, Lotus Foods said it will scale its business by investing in its value chain, sourcing new global rice cultivation communities and growing its customers.
Lotus Foods was founded in 1995 by Caryl Levine and Ken Lee and partners with small family farmers to promote regenerative rice cultivation. Its product line includes heirloom and organic rice varieties, rice-based noodles and ramen and soup cups.
“When we founded Lotus Foods, our goal was to create positive change in the industry by focusing on the well-being of our farmer partners, our consumers, and the world that we live in,” Levine and Lee said. “Grounded Capital shares those values, and we are proud to welcome them into the Lotus Foods family to help us scale our economic, social and environmental impact.”
Stephen Hohenrieder, chief executive officer of Grounded Capital, and William Culler-Chase, principal of Grounded Capital, are joining Lotus Foods’ board of directors.
“For nearly 30 years, Lotus Foods has been a global leader in rice farming practices that prioritize climate change mitigation, farmer resilience, empowerment of women, and a more equitable food system,” Hohenrieder said. “This mission-driven business model, coupled with an exceptional line of consumer products makes Lotus Foods an ideal partner. Lotus Foods and Grounded Capital share a belief that by taking a systems-based, holistic approach, we can have a significant and positive impact on communities from soil to the consumer. We’re thrilled to be part of their future growth and success.”
