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Foodtech N!CK’S that just launched in UK grabs $100M funding for global expansion

N!CK’S is a Sweden-based global foodtech innovator of healthy and indulgent snacks and ice cream. Today, the company announced that it has grabbed $100 million (nearly £72 million) in a Series C funding round.

Global expansion and growth plans

The investment round was led by Kinnevik, Ambrosia Investments and Temasek, with Gullspång, an early investor in Oatly, Peak Bridge, Capagro and Nicoya filling out the round.

N!CK’S will use the proceeds of this round to further bolster European and North American growth, expand the product portfolio and double its store count in 2022. Also, N!CK’S will make significant investments in R&D efforts concentrated on innovative solutions that make the world a healthier place. Other priorities include hiring key talent and strategic marketing initiatives.

“Healthier lifestyles and nutritional science just got a 100 million dollar boost,” said Niclas Luthman, Founder & Head of R&D. “My dream is to change our relationship with snacking into an entirely positive thing. This investment round will make our message heard, and fuel the massive R&D effort ahead of us in making more and more snacks better-for-you and better for the planet.”

“We are incredibly excited to support N!CK’S on their mission of providing consumers with more choices of healthy ice cream and snacks. When we look at potential food investments, we look for companies that are addressing and taking advantage of tail winds within consumption patterns, the importance of health and sustainability. N!CK’S fits squarely into these areas and we have been impressed by the strong market traction across the US and Europe, we look forward to joining their journey of building a global brand,” said Magnus Jakobson, Investment Director at Kinnevik.

“We are very excited that our investors, new and current, continue to believe in and want to be part of our journey to provide fantastic snacking experiences without compromising our consumers’ health. This investment will enable us to continue revolutionising the global snacking market with groundbreaking innovation,” said Stefan Lagerqvist, Group CEO.

Fast-growing foodtech

N!CK’S was just launched in the UK with a country-wide listing of its zero-sugar confectionary bars at WHSmith. Also, it is one of the company’s chosen for Sainsbury’s Future Brands Program. It is touted to be the only better-for-you brand that promises consumers they don’t have to compromise taste for health.

They deliver on the promise through proprietary and exclusive food-science ingredients which gives an authentic texture to treats consumers love, with fewer fat calories and no added sugar.

Established by founder Niclas Luthman in Stockholm in 2017, N!CK’S is currently providing its products to millions of customers across 16 international markets, including the UK and US. The foodtech expanded from 4,500 stores in US in 2020 to 6,700 in 2021.