2nd September, 2021

The world has long been seeking sustainable and plant-based options when it comes to maintaining a clean diet. However, brands have now pushed the envelope to offer people climate-positive snacking options. The Nu Company’s funding round came at a time when the global demand for healthy vegan food has been rising in the food industry. 

Tapping the growing consumer demand for plant-based foods

The Nu Company, is a startup in Leipzig that started the vegan chocolate and protein brands Nucao and Numove. In heartening news, the Nu Company has secured financing worth €14 million in a Series A round. The company representatives revealed that the funds shall be used to further Nu’s ongoing expansion as the company saw a record-breaking year of sales. This was primarily driven by the swiftly growing consumer demand for plant-based foods. 

This round of funding saw Luxembourg-based DLF Venture at the helm. However, Paris-headquartered food tech investors Five Seasons Ventures and DX Ventures, the VC arm of food delivery giant Delivery Hero, which also owns Foodpanda also participated.

What’s on the horizon for the Nu Company

A Nu spokesperson affirmed that proceeds from its Series A financing, (this happens to be the startup’s first financing round) shall aid the company’s growth and distribution efforts all over Europe and globally. Co-founder and CMO Christian Fenner, explains, “This Series A will help us bring more products to market that can bring about a real and positive change in the food industry. We want our products to be even easier to access throughout Europe, whether at the local supermarket or with a single click online.” 

Lead investor DLF Venture believes that Nu’s focussed-driven business is a key aspect of why the brand is poised for growth despite changing consumer preferences. “The goal is always to bring a healthier option to everyone’s table without neglecting the environment,” said principal Clément Helinckx. “The result is excellent consumer engagement and outstanding growth rates,” Helinckx continued. “It’s exciting to see a brand spread its wings so quickly. This shows a clear adjustment of the market and a great deal of potential to trigger long-term changes.” 

The Startup Story

The startup that launched in 2016 was started by Fenner with Thomas Stoffels and Mathias Tholey. However, it has seen unprecedented growth since with two successful consumer-facing brands, Nucao and Numove. Both these extend climate-positive, plastic-free and low-sugar vegan chocolate and protein bars and snacks. What’s more is that their entire range of offerings are certified as organic, vegan, and free from refined sugars. As an added bonus, they are all packaged in home compostable cellulose-based wrappers. The Nu company has now retailed in over 10,000 stores.

This brand upholds their corporate social responsibility

Studies conducted around the world reveal that over 80% of all shoppers now insist that brands play an important role in climate action and social justice. Therefore, it is evident that as consumers, we tend to prefer brands that emphasize on their social responsibility. Well, The Nu company sets aside a portion of proceeds from each sale to support reforestation. These projects are initiated by nonprofit organisation Eden that makes sure to plant one tree plant for every bar sold. Co-founder and CFO Stoffels has confirmed that the startup shall have planted over 10 million trees before the end of this year. 

“We don‘t stop at our own products. There needs to be a change in consciousness in the industry as a whole,” said Tholey. “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.” 

What do you think of this development? Would you care to savour some climate-friendly snacks? Tell us.

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