"Better for you" Food Startup KoRo Secures €20 Million in Series B Extension Round


In recent years, consumers have become more conscious about what they eat and how it impacts their health and the environment. As a result, there has been a growing demand for “better for you food” – food that is healthier, more sustainable, and more transparently sourced. KoRo, a Berlin-based startup, is at the forefront of this trend, offering a range of high-quality, affordable, and sustainable food products.

Founded in 2014 by Piran Asci and Constantin Bisanz, KoRo started as a small online store selling nuts and dried fruits. Over the years, the company has expanded its product range to include nut butters, snacks, superfoods, and other healthy food options. Today, KoRo sells over 1,000 different products, all of which are carefully sourced from around the world and sold directly to consumers.

One of KoRo’s key selling points is its commitment to transparency. The company provides detailed information about where its products come from, how they are produced, and what their nutritional value is. This level of transparency is rare in the food industry and helps consumers make more informed choices about what they eat.

In addition to transparency, KoRo is also committed to ethical sourcing. The company works directly with farmers and producers to ensure that its products are produced in a sustainable and ethical way. By cutting out the middlemen, KoRo is able to offer high-quality products at affordable prices, while also supporting local farmers and producers.

Another unique aspect of KoRo’s business model is its direct-to-consumer sales approach. By selling its products online, the company is able to bypass traditional retail channels and sell directly to consumers. This not only allows KoRo to offer lower prices, but also gives the company greater control over the quality of its products and the customer experience.

KoRo’s commitment to transparency, ethical sourcing, and direct-to-consumer sales has resonated with consumers across Europe. The company has quickly gained a loyal following and has expanded its presence to 17 markets. In 2022, KoRo acquired around half a million new customers, and its products are now available in major supermarkets and online marketplaces.

KoRo’s success has not gone unnoticed by investors. In 2021, the company raised a sizeable €50 million Series B round, with funding from HV Capital, Five Seasons Ventures, and Partech. In 2022, KoRo added another €20 million in a Series B extension round, with new investors including SevenVentures, Associated British Foods, and the Haub Legacy Ventures.

The new investment will be used to fuel growth in both offline and online media, with plans to develop KoRo’s market presence in the DACH region and expand to other markets including France, Italy, and Scandinavia. According to KoRo CFO Daniel Kundt, the company is on track to achieve profitability in 2023, with turnover projected to be “considerably over €100 million.”

With a focus on transparency, ethical sourcing, and direct-to-consumer sales, KoRo is quickly gaining popularity across Europe. As the demand for “better for you food” continues to grow, KoRo is well positioned to lead the way in this rapidly evolving industry.

Koro is currently hiring in Berlin!

More posts like this