US brand Kos has closed a $2.1 million finance round to accelerate the growth of its plant-based protein and functional ingredient supplements.
The round was led by Springdale Ventures, former Whole Foods CEO, Walter Robb, and chairman of Horizon Bank, Jim Schneider.
With its new funding, Kos aims to expand product innovation, strengthen its marketing presence in the US and expand distribution into new markets.
Since launching in 2018, Kos says its line of organic and plant-based products has seen success through its website, Amazon, Whole Foods and a variety of Southern California retailers. Between July 2019 and July 2020, Kos saw a 271% increase in sales and has entered into 5,400 new points of distribution this year.
The launch of new plant-based proteins and daily nutrient-rich blends in Whole Foods in April this year marked the first time the brand’s products were made available in a major retailer nationwide.
Most recently, the brand added new functional blends such as a mocha mushroom coffee, a low sugar hot chocolate mushroom blend and a gingerbread chai flavoured golden mylk to its line-up.
“As we grow, our mission remains the same: to give everyone access to plant-based superfoods that promote overall health and can be enjoyed on-the-go while positively impacting the environment,” said Allan Stevens, co-founder of Kos.
Jim Schneider, chairman of Horizon Bank and former CFO at Dell, added: “Led by strong and driven leadership, and offering a diverse line of delicious, plant-based products, Kos provides consumers with the opportunity to make a small yet sustainable change that positively impacts overall health and the environment.
“Kos’ ability to reach people across all dietary preferences makes them a company destined for great things and we are happy to partner with them as they scale the business to new heights.”
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