Swedish better-for-you snacks company, Nick’s, has announced that it has raised $100 million in a Series C funding round.
The round was led by companies including Kinnevik, Ambrosia Investments and Temasek, along with Gullspång, an early investor in Oatly.
Nick’s describes itself as a ‘better-for-you’ snack brand that delivers “the experience of full fat, full sugar snacks with a fraction of the calories and no added sugar”.
The funding will be used to expand the company’s portfolio and distribution.
The business will also make significant investments in R&D, which will be centred around innovative solutions. Other priorities include hiring key talent and strategic marketing initiatives.
Niclas Luthman, founder and head of R&D, commented: “Healthier lifestyles and nutritional science just got a 100 million dollar boost. My dream is to change our relationship with snacking into an entirely positive thing. This investment round will make our message heard, and fuel the massive R&D effort ahead of us in making more and more snacks better-for-you and better for the planet.”
This announcement comes after Nick’s partnered with Perfect Day to launch a new line of vegan dairy ice creams in January of this year.
© FoodBev Media Ltd 2021
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