Protein snack brand Stryve Biltong has secured $10 million in funding from investment company Meaningful Partners, as it aims to expand its position in the US meat snacks market.
Stryve Biltong is owned by Stryve Foods, and produces a range of biltong beef jerky products, as well as chicken and turkey bites and beef and turkey sticks.
The company says that this investment will help to accelerate its marketing efforts and help fund the construction of a new production and distribution facility.
Gabe Carimi, Stryve Biltong CEO said: “This will be a huge opportunity for us to keep up with our significant product demand and scale our business to make biltong more accessible everywhere in the US.
“We’ve already shown tremendous growth since we started in the summer of 2017, and we’re ready to take our expansion to the next level.”
Jake Capps, founder of Meaningful Partners added: “We are excited to have the opportunity to partner with the outstanding team at Stryve Biltong.
“They have a differentiated and phenomenal tasting product that is truly good for you in a fast-growing snack category.
“We have great confidence that the team will continue to grow Stryve to become a leading meat snack company offering specialty products, including biltong, to grocery, mass, club and convenience stores nationwide who are seeking a healthy snack alternative with a clean label and incredible taste.”
Joe Oblas, co-founder of Stryve said: “This first round of funding is a major accomplishment for our young brand and a huge step towards bringing awareness about our amazing product to the US.
“This investment serves as a strong endorsement of our company and the tremendous potential of our brand.”
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