HomeFuelThe Good Charcoal Company Raises $1.2M in Seed Round

The Good Charcoal Company Raises $1.2M in Seed Round

With charcoal companies expanding operations to keep up with the growing demand in the grilling industry, The Good Charcoal Company continues to grow through raising $1.2 million in a seed round.

The Good Charcoal Company is a newcomer to an old industry, it was founded in 2020 with a mission of environmental sustainability. They make their charcoal out of Namibian Acacia, a denser wood than oak and hickory, which lends itself to burn hotter, cleaner and more evenly. It also means that you need less charcoal for your BBQ. Sourcing their wood from the Namibian bush is environmentally beneficial because of overgrow that threatens open grasslands needed for people and wildlife.

The Good Charcoal Company is based in New York and currently has under $1 million in revenue, but clearly has plans to scale with their Seed Round. The $1.2 million equity offering began in January and went to 37 different investors with a minimum investment of $10,000 each.

You can find their charcoal in major retailers such as Home Depot, Sam’s Club and Shoprite priced at $19.99 for a 15.4 lb bag.

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