Leipzig-based sustainable food startup the nu company has successfully completed its first financing round following triple-digit sales growth for the fourth consecutive year. Raising over €14 million in series A funding, the challenger brand is looking to seriously disrupt the food industry with its vegan product line.
Featuring the vegan and sugar-reduced chocolate bar line nucao, and the organic protein brand numove, the nu company aims to expand its line of all-organic, low ingredient products with less sugar, plastic-free packaging, and a negative CO2 balance.
Having recorded triple-digit sales growth for four consecutive years, and with its products already available in over 10,000 stores, the company was an attractive offer for the Series A investors, which included former F1 world champion and sustainability entrepreneur Nico Rosberg, as well as DX Ventures.
The nu company has also previously launched its raw and organic chocolate bar into the Chinese market rebranded as nuchoc.
“We want to turn the food industry on its head – so that the focus is no longer solely on profit, but on the future of our planet and the health of its people. This Series A will help us bring more products to market that can bring about a real and positive change in the food industry. In addition, we want our products to be even easier to access throughout Europe, whether at the local supermarket or with a single click online. This is why we are currently looking to expand our team with the best talents in key sectors and geographies who share our passion for positive and sustainable change,” commented Co-Founder and CMO Christian Fenner.
“We don‘t stop at our own products. There needs to be a change in consciousness in the industry as a whole. That’s why we’re putting the pressure on and demanding that politicians and large corporations follow suit, so we can treat consumers and our planet with respect and operate in a way that’s appropriate for all generations,” added Co-founder and CEO Mathias Tholey.