A Chicago food startup making granola-like products from buckwheat is raising money in a crowdfunding campaign as it works to introduce more consumers to its product.
Lil Bucks sells bagged sprouted buckwheat crunch and adaptogenic buckwheat clusters that are all gluten-free, non-gmo and have 5 grams of fiber per serving. Buckwheat is a nutritious fruit seed that’s often referred to as a “superfood,” and it has a nutty and oat-y flavor profile.
Lil Bucks products come in several flavors, like matcha and cacao, and are designed to be incorporated into breakfasts and snacks. Founder and CEO Emily Griffith said most consumers top cereal, smoothies and acai bowls with Lil Bucks' crunch product.
Before launching Lil Bucks, Griffith worked in marketing, making campaigns for brands like Coca-Cola, Four Loko and TGI Fridays. And she was first introduced to buckwheat while living in Sydney, Australia, in 2016.
“That’s where I had a life-changing acai bowl,” Griffith said.
The bowl was topped with sprouted buckwheat seeds as an alternative to granola.
“That led to an obsession,” Griffith added.
Later in 2018, once Griffith moved to Chicago, she launched Lil Bucks, making its first products at The Hatchery, a hub for new food entrepreneurs located at 135 N. Kedzie Ave., and where Kellogg Company just opened a new innovation center.
“We’ve done a ton with [The Hatchery],” Griffith said. “They’re definitely a big part of our story and how we got off the ground.”
Lil Bucks now sells its products at more than 160 stores nationwide, including Whole Foods, Foxtrot, Erewhon and other local grocers. Lil Bucks also sells its products on Amazon and directly to consumers on its website.
The company said it is catching on with consumers, with revenue quadrupling from 2019 to 2020. Now about 50% of Lil Bucks’ inventory is sold wholesale, with the other half being sold directly to consumers.
“We’re speaking to those consumers that are starting to learn more about what’s in their food,” Griffith said. “They might be disenchanted with the food industry in general and they’re willing to take a look at the nutrition labels and they want to demand more from food brands.”
Lil Bucks products are made from buckwheat harvested in Minnesota and North Dakota. The products are then manufactured at The Hatchery and at a commercial manufacturer in Ontario.
So far, Griffith raised $265,000 from friends and family to fund Lil Bucks. And she recently launched a Republic crowdfunding campaign that’s raised more than $14,000 of a $25,000 goal. The funds will be used to hire another full-time employee to join Griffith.
Griffith also said she plans to raise traditional venture capital funding in the future.
“We’re trying to take a path that gets us to $1 million in revenue in the fastest and most efficient way as possible,” Griffith said.
