Stars + Honey raises $24 million to expand collagen protein bars

Stars + Honey has turned collagen protein bars into a venture-scale bet, pulling in $24 million from VMG Partners while aiming for about $50 million in 2026 revenue. The deal leaves the founders in control, gives VMG a minority growth stake and puts McConnell Smith on the board as the company pushes beyond niche wellness into national scale.

For investors, the pitch is not just protein grams. Stars + Honey is built around hydrolyzed Type I and Type III collagen peptides from grass-fed bovine sources, a formulation the brand says supports skin elasticity, hair health and joint comfort while keeping each bar at 180 calories and 15 grams of protein. The lineup leans hard into dessert territory, with flavors such as Peaches and Cream, Strawberry Shortcake, Cacao Salt Caramel Peanut, Mint Cookies and Cream, Iced Lemon Cookie and Peanut Butter Mousse, all developed in-house.

That in-house work is part of the thesis. Founder Daniel Rainey has said the company had to control much more of the formulation and quality process than most bar brands because the industry was not built for the consistency Stars + Honey wanted. In practice, that means the business is trying to sell premium texture, repeatable flavor and a clearer function story than a standard protein bar can offer.

The company’s next step is manufacturing control. Stars + Honey plans to open a 60,000-square-foot facility in Novi, Michigan, in the fourth quarter of 2026, a move meant to support omnichannel expansion, continued product development and broader retail growth. That matters because the bars are already moving through major channels, with Target listings showing flavors such as Dark Chocolate Coconut, Espresso Vanilla Cinnamon, Cacao Salt Caramel Peanut and Cherry Chocolate Waffle Cone, and Amazon listings showing bars with 14 to 15 grams of protein and 1 to 2 grams of sugar.

VMG is making a familiar kind of consumer bet. The firm says it backs branded products and services in both majority and minority positions, and its portfolio has included Quest, Spindrift, Drunk Elephant, Kind, Sun Bum and The Honey Pot Company. Stars + Honey fits that pattern: a product that sits between snack, supplement and beauty adjacent wellness, with enough differentiation to justify premium positioning.

The wider collagen case is still the key question. Harvard’s Nutrition Source says collagen supplements are most studied for skin and joint health, and some randomized trials have shown improvements in skin elasticity. A 2026 umbrella review of 113 randomized controlled trials and 7,983 patients found collagen supplementation was consistently linked with favorable outcomes for skin, musculoskeletal health and osteoarthritis, while oral-health and cardiometabolic results were mixed. That gives Stars + Honey more than a lifestyle story to sell, but the real test is whether collagen bars can keep winning on taste, texture and habit, not just wellness marketing.