Swedish food tech startup Nick’s raises $100M to make the world healthier with its sugar-free snacks and ice cream | Tech News

Sugar tastes good however an excessive amount of of additionally it is dangerous to your well being. American adults consume an average of 77 grams (about 18 teaspoons) of sugar per day. This provides as much as round 60 kilos of added sugar annually, per particular person– that’s six, 10-pound bowling balls. That’s additionally greater than 6 teaspoons (25 grams) of added sugar per day (100 energy per day for girls) of dietary tips really useful by the American Coronary heart Affiliation (AHA).

Specialists say that extreme sugar consumption is a significant explanation for weight problems, coronary heart illness, kind 2 diabetes, some forms of cancers, dental points, and an entire slew of different illnesses. Studies have also shown by means of mind scans that sugar is as addictive as cocaine, but we proceed to devour it at a harmful fee. The place’s all this added sugar coming from? Drinks, snacks, and ice lotions are the main supply of added sugars. All of us love snacks and ice lotions however many of the ones in our grocery shops are full of sugar. What if there’s one other approach?

Enter Nicks, a Swedish food-tech startup that sells sugar-free snacks and ice cream to make the world more healthy. In 2014, the founding father of Nick’s, Niclas “Nick” Luthman, was recognized as a pre-diabetic, so he was pressured to vary his weight loss program and life-style and that was how Nicks was born.

As we speak, Nick’s introduced it has raised $100 million in a funding spherical led by funding firms Kinnevik, Temasek, and Ambrosia Investments, with participation from Gullspang, enterprise capital agency Peak Bridge, fund Capagro, and funding firm Nicoya. To this point, Nick’s has raised $160 million thus far.

Nick’s will use the funding proceeds to bolster development in Europe and the US, develop the product portfolio and double its retailer rely in 2022. To this point, Nick’s stated it had expanded to six,700 shops this yr within the U.S. from 4,500 shops in 2020, and doubled its ice cream enterprise in its house market Sweden.

“We’re extremely excited to help Nick’s on their mission of offering shoppers with extra selections of wholesome ice cream and snacks. After we have a look at potential meals investments, we search for firms which are addressing and making the most of tailwinds inside consumption patterns, the significance of well being, and sustainability. Nick’s matches squarely into these areas and now we have been impressed by the sturdy market traction throughout the US and Europe, we sit up for becoming a member of their journey of constructing a world model,” says Magnus Jakobson, Funding Director at Kinnevik.

Based in 2017 by Carl Backlund and Niclas Luthman, the Sweden-based Nick’s has expanded to 16 markets together with the US and UK with their “Higher For You” snacking treats. With a proprietary mix of sweeteners and unique patent-protected components, Nick’s delivers the expertise of full fats, full sugar snacks with a fraction of the energy and no added sugar.

“We’re very excited that our traders, new and present, proceed to imagine in and need to be a part of our journey to supply unbelievable snacking experiences with out compromising our shoppers’ well being. This funding will allow us to proceed revolutionizing the worldwide snacking market with groundbreaking innovation,” stated Stefan Lagerqvist, Group CEO.

“We’ve seen during the last yr how a lot shoppers belief Nick’s to convey them excellent tasting merchandise with revolutionary nutritionals. Shoppers can’t get sufficient of our ice cream pints, protein bars, and most not too long ago our Cookie Krams. We are able to’t wait to make use of this funding to convey extra new Nick’s merchandise shoppers love throughout extra snacking classes,” stated Carlos Altschul, CEO of North America.

https://techstartups.com/2021/10/28/swedish-food-tech-startup-nicks-raises-100m-make-world-healthier-sugar-free-snacks-ice-cream/ | Swedish meals tech startup Nick’s raises $100M to make the world more healthy with its sugar-free snacks and ice cream | Tech Information


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