German natural food company, KoRo, has raised €50 million in a Series B funding round to expand its product portfolio.
The round was led by venture capital firm, HV Capital, alongside food tech specialist Five Seasons Ventures and global investment platform Partech.
The capital will be used to expand KoRo’s product portfolio, develop new marketing channels and increase its international footprint to Greece and the Czech Republic.
Founded in 2014, KoRo sells natural spreads and nut butters, dried fruits, organic ingredients, snacks and superfoods.
KoRo’s co-founder and CEO, Constantinos Calios, said: “We will use the fresh capital to further accelerate growth both in Europe and internationally, with our fantastic team being the backbone of KoRo’s success”.
He continued: “We currently ship to 16 EU countries and plan to open the online store in Greece and the Czech Republic soon. With the investment of our new VCs, we also want to expand our product portfolio from 1,250 SKUs to 2,000 by the end of this year.”
Five Seasons Ventures’ managing partner, Ivan Farneti, said: “At Five Seasons Ventures we look for outstanding food-tech companies throughout Europe and we have been following KoRo for a while”.
He continued: “The management team’s exceptional job is the result of a tremendous passion for product quality and value-for-money for consumers, and the ability to implement scalable processes throughout the business, from marketing to operations, to procurement, etc. This business can scale to become a leading new brand for healthy food in Europe.”
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