Food tech company Nick's raises $100 million in funding round
28/10/2021 13:00
STOCKHOLM, Oct 28 (Reuters) - Swedish food tech firm Nick's
said on Thursday it had raised $100 million in a funding round
led by investment companies Kinnevik KINVb.ST , Temasek and
Ambrosia Investments.
Nick's, which makes sugar-free snacks and ice cream, said
Oatly OTLY.O investor Gullspang, venture capital firm Peak
Bridge, fund Capagro and investment company Nicoya also
participated in the round.
The company said the funding will be used to bolster growth
in Europe and the United States, expand the product portfolio
and double its store count in 2022.
"Nick's will also make significant investments in R&D
efforts," it said in a statement.
Nick's said it had expanded to 6,700 stores this year in the
U.S. from 4,500 stores in 2020, and doubled its ice cream
business in its home market Sweden.
Including the latest financing round, Nick's has raised $160
million to date. Founded in Sweden four years ago, it has
expanded to 16 markets including Britain.
(Reporting by Helena Soderpalm; editing by Niklas Pollard)
((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))