Startup Obtains $240 million to Compete with Amazon

© Brandless

The future of online shopping is brand-free, and it caters specifically to vegans.

On 31st July, online retain startup Brandless, announced that SoftBank’s $100 billion Vision Fund had invested $240 million in the firm, meaning that they now have a market value of over $500 million.

Brandless launched in 2017 with a mission to remove both the “brand tax” and the consumer distraction of labels, and to provide “Better everything.”Each and every product is an own-brand item, and the key gimmick is that absolutely everything sells at $3. The food products are primarily organic, non-GMO, and vegan, and in addition they are made without any synthetic preservatives or flavours.

The store’s vegan section offers everything from peanut butter, pasta sauces, vitamins and supplements, cosmetics, to chocolates and treats, with all of the ingredients being entirely cruelty-free.

Brandless announced in April 2018 the opening of their first physical space at 8483 Melrose Avenue, and this recent round of funding ensures their continued success. Great news for vegans and further news that the future of market trends lean towards plant-based living.