The Startup CPG Podcast

In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Sumeet Shah, founder of VHS Ventures, to explore what founders need to know about the diligence process, from balance sheet health checks to building the kind of trust that makes investor-founder relationships last.

Sumeet brings over 14 years of experience across consumer investing, private equity, and venture capital. His journey spans early work with PE-backed consumer brands, helping launch Brand Foundry Ventures, early backer of Allbirds, Cotopaxi, and Yumi, and Swiftark Ventures, before ultimately founding VHS Ventures in 2023, a firm built around what he calls a "village mentality." VHS fully deployed its first fund into 20 companies in just 18 months.

Throughout the conversation, Sumeet breaks down VHS Ventures' circular thesis across consumer products and commerce infrastructure, explains why contextual commerce is the next evolution beyond omnichannel, and shares his firm's rigorous yet relationship-driven approach to diligence. He dives deep into why he prioritizes balance sheet health over P&L optics, walks through liquidity ratios including current vs. quick ratio and cash conversion cycle, and explains why the "why" behind the numbers matters just as much as the numbers themselves.

Sumeet also opens up about what a first investor meeting should actually feel like, a conversation not an interview, why transparency is non-negotiable in the founder-investor relationship, and why not every great company needs to be venture-backed. He closes with a reminder that investors, including himself, are approachable and encourages founders to reach out genuinely.

If you're fundraising, evaluating potential partners, or just want to understand how experienced investors think about your business's financial health, this episode is packed with both insight and heart.

Listen in as they discuss:
Sumeet's journey from PE to Brand Foundry to Swiftark to VHS Ventures VHS Ventures mandate: pre-seed to seed focus, $250K–$500K checks scaling to $1–3M through Series A 
The "village mentality" and how LPs, board members, and founders all share in success
 Contextual commerce and the evolution beyond omnichannel 
Commerce infrastructure and the role of AI in supply chain and customer profiling Diligence deep dive: why balance sheets matter more than P&Ls Current ratio vs. quick ratio and what they reveal about financial health 
The cash conversion cycle and what it means for wholesale brands 
Why transparency in diligence is the foundation of the founder-investor relationship 
What a first investor meeting should feel like and what fit really means 
Advice for founders: eternal curiosity, resisting ecosystem pressure, and finding your believer 
Breaking into consumer investing: building your platform and finding your passion

Episode Links:
Sumeet Shah — Founder & Managing Partner, VHS Ventures 
LinkedIn: https://www.linkedin.com/in/sumeethshah/ 
Company LinkedIn: https://www.linkedin.com/company/vhs-vc/ 
Website: https://www.vhs.vc/ 

Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com

Show Links:
Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Hannah's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Caitlin Bricker sits down with Keya Wingfield—founder of Keya's Snacks—a brand bringing Indian heritage to beloved American potato chips. From accidental pandemic pivot to stunningly designed bags landing on shelves at Sprouts and Fresh Thyme, Keya shares the full journey: the origin story behind her Bombay Spice and Black Salt flavors, the deeply intentional design choices behind her iconic packaging (yes, that's her face on the bag—and there's a whole lot more to it than that), and why she's on a mission to break through what she calls the "sea of sameness" in the chip aisle.

Keya opens up about going from custom desserts and a Food Network championship to overnight CPG founder, how her husband's reluctance to eat Indian food became the unlikely spark behind her flavor philosophy, and why making bold, cultural flavors accessible and affordable to everyone is at the core of everything she does. She also gets candid about burnout as a solo founder, the lessons she's still learning, and what she hopes her seven-year-old daughter takes away from watching her build something from nothing.

Whether you're a founder, a retailer, or just someone who needs a better chip in their life, this episode delivers.

Listen in as they discuss:
How a pandemic pivot from custom desserts accidentally launched a chip brand
The origin of Bombay Spice: making Indian flavor approachable for an American palate
The deeply symbolic design behind Keya's packaging—and why her face represents every woman who has ever fed anyone
Why she fought hard to keep the MSRP accessible, and what happened when a shopper thought it was $12.99
What single-origin organic spices from India have to do with respecting the consumer
The "sea of sameness" in the chip aisle and what Keya wants retailers to hear
Burnout, walks, and buying too much makeup: how she stays grounded as a solo founder
A third flavor on the way and what's next for Keya's Snacks

Episode Links:

Keya Wingfield — Founder & CEO, Keya's Snacks 

🔗 LinkedIn: https://www.linkedin.com/in/keya-wingfield/ 
🌐 Website: https://www.keyaandco.net 
📸 Instagram:
https://www.instagram.com/keyaandco/
https://www.instagram.com/keyassnacks/ 

Show Links:
Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Caitlin's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this mini episode of the Startup CPG Podcast, host Daniel Scharff breaks down everything you need to know about the Founders & Funders Roadshow — a brand new series of accessible, city-based fundraising events coming to four cities in 2026. After the massive success of the December Founders & Funders event in New York City, Startup CPG is bringing the same energy and caliber of investors directly to founders across the country.

Daniel walks through exactly how the events work — from filling out your one-pager to getting matched for 10-minute 1:1 meetings with active VCs — and makes a strong case for why getting your ticket early is essential. He also shares the impressive VC lineups already confirmed for Los Angeles and New York, and gives practical tips for how to show up prepared and make the most of your time.

Whether you're actively fundraising or just starting to build relationships with investors, this episode will help you decide if the Roadshow is right for you — and how to get the most out of it.

Listen in as Daniel covers:

What the Founders & Funders Roadshow is and how it differs from the flagship December event
How the one-pager and 1:1 meeting matching process works — and why you can't wait until the last minute
The VC lineups confirmed for Los Angeles (April 27) and New York City (May 12)
What to expect at the event: 1:1 meetings, panels, and open networking
How to approach early VC conversations even if you're not actively raising
Tips for making the most of your 10-minute meeting
Upcoming cities: Austin (June 9) and San Francisco (August 17)

Episode Links:

🎟 Founders & Funders Roadshow — Los Angeles, April 27: https://www.eventbrite.com/e/founders-funders-roadshow-los-angeles-tickets-1982555454734?aff=oddtdtcreator

🎟 Founders & Funders Roadshow — New York City, May 12: https://www.eventbrite.com/e/founders-funders-roadshow-nyc-tickets-1983269882607

🎟 Founders & Funders Roadshow — Austin, June 9: https://www.eventbrite.com/e/founders-funders-roadshow-austin-tickets-1983637326642

🎟 Founders & Funders Roadshow — San Francisco, August 17: Coming soon

Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.

Show Links:

Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Daniel's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this mini episode of the Startup CPG Podcast, host Daniel Scharff sits down with Ian Haworth, Business Development Director at FlavorSum, to talk all things flavor—timed with the launch of Startup CPG's first-ever Product Developer Directory. FlavorSum is a fast-growing North American custom flavor manufacturer built specifically for growing food and beverage brands and the formulators who serve them.

Ian breaks down what custom flavors actually are and when you need them, how FlavorSum's "solutions model" covers everything from marketing insights and regulatory affairs to sensory and analytical support, and why their "Amazon-like" approach—samples within 48 hours, pricing within 24—sets them apart. He also shares a great example of a father-daughter duo who came in for an in-person tech session and walked out with a finished non-alcoholic beverage concept in hours.

Whether you're a brand trying to understand what to look for in a flavor supplier or a formulator evaluating partners, this episode gives you a quick but packed look at how the right flavor house can accelerate your go-to-market.

Listen in as they discuss:

What custom flavors are and when off-the-shelf options aren't enough
The FlavorSum solutions model: marketing insights, regulatory, sensory, and analytical all under one roof
Why response time matters—and how FlavorSum built their business around 24–48 hour turnarounds
FlavorSum Access: a 24/7 portal for technical and safety data sheets
What brands should be asking about their flavors: claims, heat and pH stability, shelf life, and retailer compliance
How to get ahead of supply chain disruptions before they delay your production

Episode Links:

Ian Haworth – Business Development Director, FlavorSum

🔗 LinkedIn: https://www.linkedin.com/in/ian-haworth-54561328/

🔗 Company LinkedIn: https://www.linkedin.com/company/flavorsumllc/

🌐 Flavorsum Website: https://www.flavorsum.com/contact

Startup CPG Product Developer Directory: https://startupcpg.com/product-developer-directory

Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.

Show Links:

Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Daniel's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics

In this episode of the Startup CPG Podcast, host Daniel Scharff sits down with Megan Westgate—founder and CEO of the Non GMO Project—to introduce her groundbreaking new certification: Non UPF Verified. With nearly two decades of experience in food integrity, Megan unpacks why ultra processed foods are driving a global health crisis, how the new standard was designed to fill a critical gap in the marketplace, and what it means for brands, retailers, investors, and consumers alike.
Megan shares the origin story of the Non GMO Project—starting from a laptop on her bedroom floor with no desk and no salary—and draws powerful parallels to the cultural moment we're in now around ultra processed foods. She explains how the Non UPF Verified standard was designed to find a meaningful middle ground: not rubber-stamping all industrially produced food, but also not making the bar so high that no brand can realistically achieve it. The standard requires that at least 70% of a verified product's ingredients be minimally processed, prohibits ultra processed ingredients like hexane extraction and non-nutritive sweeteners, and sets category-specific limits on refined added sugars.
The conversation dives into what ultra processed really means (and why the definition is more contested than you'd think), how this standard differs from organic and Non GMO, and why 52% of consumers now say degree of processing is their number one concern when buying food—more than GMOs or organic. Megan also shares early momentum: 300+ brands on the waitlist, 115 products already verified through the pilot, and early adopters including Amy's, Simple Mills, and Spindrift.
Whether you're a founder formulating a new product, a brand considering certification, or a buyer trying to make sense of the UPF conversation, this episode is essential listening.
Listen in as they discuss:

How the Non GMO Project started from scratch—one laptop, no desk, no salary—and what made it take off
What "ultra processed" actually means and why the definition matters so much
The Non UPF Verified standard: prohibited ingredients, the 70% minimally processed requirement, and category-specific sugar limits
How Non UPF Verified differs from organic, Non GMO, and clean label claims
Why 52% of consumers cite degree of processing as their top concern—surpassing GMOs and organic
The business case for early-stage brands to formulate for this standard from day one
What the certification process looks like: document-based, no on-site inspections, no testing required
How legacy CPG brands are responding (spoiler: new product launches, not reformulations)
Early pilot brands: Amy's, Simple Mills, and Spindrift
Where to find the standard, consumer research, and how to get started at non-ultra-processed.org

Episode Links:
Megan Westgate – Founder & CEO, Non-GMO Project + Non-UPF Verified
🔗LinkedIn: https://www.linkedin.com/in/meganethompson/
🔗Non UPF Verified LinkedIn: https://www.linkedin.com/company/non-upf-verified/
🌐 Website: https://www.nonultraprocessed.org/
Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.
Show Links:
Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)
Join the Startup CPG Slack community (35K+ members and growing!)
Follow @startupcpg
Visit host Daniel's Linkedin 
Questions or comments about the episode? Email Daniel at [email protected]
Episode music by Super Fantastics