In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Sophia Cheng, Founder and CEO of Oddball, for a Founder Fundraising Journey conversation. Oddball is reimagining snacking for a new generation with jiggly, nostalgic fruit cups made from real fruit juices and purees — no artificial flavors or colors — inspired by the fruit-based snacks Sophia grew up with in Singapore. The brand is currently sold exclusively at Target and Target.com, with a nationwide expansion and new SKU launching just four months after its initial rollout.
Sophia's path to founder was anything but conventional: from management consulting to Bridgewater Associates under Ray Dalio, to a strategy director role at Estée Lauder, where she watched indie beauty brands reshape an entire industry before eventually building Oddball on the side — testing benchtop formulations at farmers markets and pitch competitions before ever raising a dollar.
Hannah and Sophia get candid about what it actually takes to fundraise as a first-time, minority woman founder in CPG: the mental shift from "convincing" to "aligning," why the hardest round is always the first, and how to build investor relationships that function more like real friendships than transactions.
Listen in as they discuss:
How a corporate career at Bridgewater and Estée Lauder shaped Sophia's point of view on brand-building and category trends
The origin of Oddball: catching up to her own junk-food habits and reimagining a nostalgic fruit snack without artificial ingredients
Validating the idea before raising a dollar — bringing a benchtop product to Sprouts and pitch competitions first
Why CPG fundraising is fundamentally different from tech, and why 2023's shifting investor landscape made a first raise even harder
The mindset shift from "convincing people to believe in you" to "finding the people who already do"
Understanding investor incentives as a structured game — and why cap table strategy depends on your own founder style
How many investors typically participate in a raise (a direct answer to a Startup CPG Slack community question)
Building investor relationships rooted in transparency and respect, including Sophia's rapport with lead VC Springdale Ventures
Embracing fear as a compass — and treating fundraising rejection as fuel rather than a source of bitterness
What's next for Oddball: nationwide Target expansion, a new flavor launch, and the goal of becoming "the Willy Wonka of fruit"
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