Frontier Nutrition raises funds through Series B round

Bangladesh-based fortified snacks company Frontier Nutrition has raised $6m in Series B financing led by Adjuvant Capital.

Adjuvant Capital is a New York-based life sciences fund, backed by the Bill & Melinda Gates Foundation, the International Finance Corporation and other global health investors.

The financing round was also joined by DSG Consumer Partners, DSM Venturing, Great Point Ventures, among others.

Proceeds from the round will be used for in-house manufacture of several products, to launch sales and marketing campaign for its consumer brand Hashi Khushi and develop new products for use in research studies and international humanitarian efforts.

Adjuvant Capital’s principal Michael Chang will join the board of directors of Frontier Nutrition.

Frontier Nutrition was founded in 2016 by Eddie Bearnot and Tanveer Ali.

The company develops, manufactures and markets fortified snacks that treat and prevent malnutrition. Its products cost $0.06 per serving.

Frontier Nutrition’s products are sold under the name of Hashi Khushi and Nutri+ at over 50,000 outlets across the country.

Its range of fortified products includes lentil butter, chocolates, powdered drinks and biscuits.

Chang said: “Frontier’s suite of micronutrient fortified snack foods provides a unique solution to addressing malnutrition among mothers and children in Bangladesh. The products are competitively priced, locally produced and, perhaps most importantly, tailored to the Bangladeshi palette, making them an attractive snacking alternative.”

“We couldn’t be more excited to be part of Frontier’s growth story as they work to scale distribution of these impactful products to women and children across the country.”