AUSTIN, TEXAS โ Low-calorie and gluten-free pasta producer Itโs Skinny has received a significant investment from Decathlon Capital Partners, a private investment firm based out of Palo Alto, Calif.
The funds will go toward the creation of new product lines and expanding the companyโs distribution capabilities, said Bryan Guadagno, founder and chief executive officer of Itโs Skinny.
โThis funding provides important support for Itโs Skinny as our company meets the growing demand from consumers for our delicious and convenient low-calorie pasta products,โ Mr. Guadagno said. โThe company-friendly funding package from Decathlon Capital Partners allows us to move forward with expanding our distribution and introducing new products in a range of โhealthyโ pasta categories.โ
Created using naturally low-calorie konjac, Itโs Skinnyโs vegetable pasta alternatives contain nine calories per package and come in varieties like angel hair, spaghetti, fettucine and rice.
While specific terms were undisclosed, the company said no equity was exchanged for the funding, and the investment will be repaid through future earnings as part of Decathlonโs revenue-based funding model.
