Online vitamin retailer SmartyPants Vitamins has closed $2.2 million through an equity crowdfunding campaign on CircleUp. Unnamed private investors participated in the said round, according to Los Angeles Business Journal.
The Venice-based firm, which was launched in 2010, will use the new capital to develop new products and beef up its workforce. To date, SmartyPants has raised a total capital of $4.7 million all via CircleUp, the report detailed.
Co-founder and chief executive officer (CEO) Gordon Gould announced that SmartyPants would be branching out to Austin Texas. The new headquarters would be headed by vice president Clay Daniels, the report added.
CircleUp is a crowdfunding platform that helps link retail and consumer startups to investors. Accordingt to The Wall Street Journal (WSJ), what sets the firm apart from other crowdfunding sites is its focus on non-tech companies. The site mostly caters to startups in the food, health, beauty, and other firms in the retail and consumer industries, the report stated.
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