Halifax-based Novagevity, which makes plant-based meal replacements, is on the verge of closing a $2.5 million seed round, with which it plans to broaden its distribution in Canada and prepare for a U.S. launch.
The company makes the Sperri brand of health drinks, which is available in supermarket chains across Canada and is used by such health authorities as Nova Scotia Health.
Novagevity began to gain traction last year when it won the Canadian Health Food Association’s Launch Pad contest, which came with $20,000 cash and a ton of buzz. It was followed by the launch of Sperri in January,