KoRo receives 35 million euros in Series C

Snacking market leader on course for growth: KoRo convinces investors and plans sales growth of over 50% for 2024

Berlin, November 2024 - Berlin-based snacking brand KoRo has closed an oversubscribed Series C financing round and raised €35 million. The round was led by Coefficient Capital from New York, supported by existing investors such as Five Seasons Ventures, HV Capital and Partech. KoRo plans to use the capital to expand its presence in Europe and further strengthen its omnichannel strategy.

Successful omnichannel model convinces investors

KoRo's omnichannel approach seamlessly combines online and offline experiences, creating strong growth momentum. "KoRo's model is one of the most impressive in the industry," explains Toni Petersson, ex-CEO of Oatly and new Advisory Board member. This strategy has helped KoRo to establish itself as the market leader in the snacking sector in Europe. The company was recently recognized as the strongest startup brand in Germany and achieved B-Corp™ certification.

Expansion in Europe

KoRo intends to use the new funds to grow further, particularly in France, Italy and the Benelux countries. In 2023, the company strengthened its presence there through partnerships with retailers such as Albert Heijn and brand ambassador Teddy Riner. For 2024, KoRo expects sales growth of over 50% and plans to expand its position as a "love brand" in every German household.

Growth and sustainability are key

In addition to growth, sustainability remains a core value for KoRo. The company focuses on transparent processes and innovative product development, from nut butters to clean label snacks. Florian Schwenkert, CEO of KoRo, emphasizes: "With our mission to revolutionize the snacking industry, we are focusing on expansion and sustainable innovation. Our journey has only just begun." Back in 2023, we reported on the Startbase about the oversubscribed Series B for the startup.