KoRo Secures €35 million in Series C Funding Round to Boost Omnichannel Presence and Fuel European Expansion

Berlin, November 20, 2024 - KoRo, the better-for-you snacking brand with over 2 million customers in Europe, announced today the successful completion of its oversubscribed €35 million Series C funding round. The round was led by New York–based Coefficient Capital, a prominent consumer-focused firm known for its early investments in successful food brands such as Oatly, Just Spices and Magic Spoon, and with strong participation from existing investors Five Seasons Ventures, HV Capital, Partech, Haub Legacy Ventures and SevenVentures, among others. The funding enables KoRo to further accelerate its profitable growth strategy, enhance its product innovation pipeline, and expand its strong European footprint, particularly in France, Italy, and Benelux.

Recently recognized as the #1 strongest startup brand in Germany by German advertising group Jung von Matt and market researcher Appinio*, KoRo has become a European leader in the snacking category, with a brand that resonates deeply with consumers. Additionally, the company achieved B-CorpTM certification in 2024, joining a global community of businesses meeting high standards of social and environmental impact. Furthermore, Toni Petersson, ex-CEO of Oatly, recently joined the Advisory Board. “KoRo’s tech-enabled omnichannel model is one of the most impressive I’ve seen in the industry. By seamlessly connecting online and offline experiences, they’re creating a powerful flywheel effect that drives brand visibility, customer engagement, and long-term growth. This unique approach is key to KoRo’s success and its ability to reach consumers where they are, and I am excited to be part of this” — Toni commented.

The interest for the latest funding round underpins KoRo‘s strong performance: representing a 50% year-over-year growth rate while operating at break-even, with listings in more than 13,000 points of sale across major European chains like Edeka, Rewe, and Albert Heijn. Despite the current challenging funding environment for Tech-based consumer companies, the round was oversubscribed, demonstrating investor confidence in KoRo’s business model and growth potential, and highlights the company’s ability to effectively manage resources and deliver exceptional results.

With the fresh equity, KoRo aims to establish itself as the number one Love Brand in every German household, while continuing to expand internationally. A key focus will be on further expansion into France, Italy, and Benelux, where the company sees significant growth potential based on its current sales traction. This year, KoRo strengthened its presence in these markets through a broad listing at Albert Heijn, the largest retailer in the Netherlands, and bringing gold medal-winning Olympic athlete Teddy Riner onboard as a brand ambassador in France. By leveraging its omnichannel presence, KoRo will scale its business across these regions, while continuing to bring innovative snacks to market, and enhance customer experiences and distribution networks.

Florian Schwenkert, CEO of KoRo:

“We’re very excited to have Coefficient Capital on board and are also grateful to our existing investors that continue to believe in us, in supporting our mission of revolutionizing the snacking industry and leading the charge for innovative and transparent food choices. Also thanks to the outstanding work of our team, we’re well on track to build a truly European omnichannel Love Brand. Many exciting projects and partnerships are already planned for 2025 — there's much more to come from KoRo!”

Arpon Ray, Partner at Coefficient Capital:

“We are thrilled to partner with KoRo at this pivotal stage of their journey. The company’s strong growth, commitment to sustainability, digital-first model and innovative approach to snacking have set them apart. KoRo stands out as a truly differentiated platform, and we believe has the potential to become a global leader in healthy snacking. We’re excited to support their continued expansion into new markets.”

About KoRo

KoRo is redefining food industry norms by offering a wide range of high-quality and innovative products. The product range extends from natural foods, such as nut butters and dried fruit, to clean label snacks and functional foods. An ongoing commitment to transparency and product innovation drives the company to explore new food frontiers, with a singular goal of offering products to the conscious eater that are convenient, enjoyable, and, as always, better and different.

KoRo was founded in Germany in 2014, and built up by Constantinos Calios and Piran Asci. Florian Schwenkert (CEO) and Dr Daniel Kundt (CFO) joined the management team in 2020 and 2022, respectively. The company employs more than 300 people and has its head office in Berlin. A customer base of over two million people shop for KoRo products online at www.koro.com, as well as in over 13,000 POS at major retail chains across Europe.

Press Contact

Natalie Wendt presse@korodrogerie.de + 49 151 4205 1506

About Coefficient Capital

Coefficient Capital invests in transformational consumer shifts. Launched in 2019, Coefficient Capital partners with high-growth, digitally-powered consumer brands. With experience backing the biggest names across consumer and technology companies, the team provides its portfolio with unique insights to support growth in both online and offline worlds. www.coefficientcap.com

Press Contact

hello@coefcap.com + 1 212 653 0046

*Source: JvM Smart