I just saw on news today that a food tech company ( that claims to reduce carbs in traditional bread products) successfully raised 7.5 million in series A. Its pre seed was an astoundingly 1 million.

I did some research and found a lot of questionable things in this food tech start up and wonder if any due diligence was done in such deals nowadays.

• the founder has no food or chemistry background prior to this .

• no patent mentioned but just say “proprietary”. from their websites and press release it seems it’s just a brand trademark. (Probably the patent application is on the way or they would have mentioned like the Beyond have done in their marketing).

• no scientific stats show how the product is different from the traditional ones in terms of carb reduction . (they just say a number but didn’t mention any source how they measure etc ).

Its sales, according to founder, was exploding. “One million in the first three month” , the price mark is $4.5 per piece tho.

I read some reviews of the product online, it doesn’t seem like it’s overwhelmingly welcomed. I just don’t understand, how VC works nowadays. Do they still do due diligence?