Arch Grants awards $300,000 in follow-on funding for growing
ST. LOUIS — Arch Grants gave $300,000 to local companies on Thursday, through a program that provides follow-on funding to businesses that create jobs and expand in St. Louis.
Any Arch Grants company still operating in St. Louis is eligible to apply for the program, called Growth Grants, which launched last year. The program requires a commitment to remain headquartered in St. Louis for an additional two years.
“These awardees’ ongoing commitment to growing their businesses in St. Louis will benefit our region by creating new local jobs, expanding manufacturing facilities, and leading innovation in their respective sectors,” Arch Grants Executive Director Gabe Angieri said in a statement.
The three companies were: Honeymoon Chocolates, which makes ethically sourced chocolate sweetened with raw honey; Inclusively, an employment and training platform; and for people with autism and sleep challenges.
The companies were each awarded $100,000 in non-dilutive funding, which means investors don’t receive shares in the company, that must be matched at least two-to-one by other funders — which could include equity investments, debt financing or grants.
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