“We are ecstatic to introduce the PeaTos snacking experience to Walmart shoppers”
The brand says the Series A funds will enable it to continue challenging the dominance of snack giant Frito Lay, which PeaTos accuses of monopolizing the salty snack category with unhealthy ingredients.
“While the amount of money we raised is a rounding error to Frito Lay, we are extremely proud of this show of strong show of support from our investors, as well as retailers and consumers, who believe in our important mission,” said PeaTos founder Nick Desai.
He added, “Even in today’s challenging fundraising environment, there is still a strong demand for a compelling and unique brand promise. PeaTos has made great strides in a short time, demonstrating a real opportunity in the salty snack category for the same great “junk” snack flavor and fun that America grew up on, but with 100% plant-based ingredients, better-for-you nutrition and none of the junk.”
As part of its growth, PeaTos is expanding into several hundred Walmart stores across the US, following its launch earlier this year at several thousand CVS Health stores and HEB Texas markets.
Recently, PeaTos products became certified Non-GMO by the Non-GMO Project – a distinction the company calls a first for the “junk snack” category.
First launched in 2018, PeaTos is on a mission to de-monopolize junk food snacks with better nutrition. Seeking to challenge Frito Lay staples like Cheetos and Funyuns, PeaTos replace the traditional corn base with nutrient-dense peas, which contains two times the protein and three times as much fiber, with no artificial ingredients or dairy.
Its product lineup includes Crunchy Onion Rings, Crunchy No-Cheese Curls, Crunchy Fiery Curls and the new Crunchy Pizza Rings. The company raised $19.5M in funding, not including the most recent A3 round.
“Holy grail” of snacking
“For too long, snackers have been led to believe that if a snack tastes good, then it must be bad for you, and that all better-for-you snacks taste like cardboard,” says Desai. “That paradigm is outdated. Cheetos were invented in 1948 and the times have changed.”
He added, “PeaTos is revolutionizing the snacking category by incorporating better-for-you nutrition and plant-based nutrition into the same crunchy fun, flavor-forward, tasty promise of snacks modeled after Cheetos and Funyuns. It’s the holy grail of snacking and we are ecstatic to introduce the PeaTos snacking experience to Walmart shoppers!”