Springdale Ventures leads $2.1m funding round for Kos
Walter Robb, former chief executive of Whole Foods, and Horizon Bank’s chair Jim Schneider are also backing the plant-based protein company
Plant-based protein company Kos has raised $2.1 million in a funding round led by Texas-based Springdale Ventures. Former Whole Foods chief executive, Walter Robb, and Horizon Bank’s chair Jim Schneider have also joined the round set up to support Kos’ expansion into new markets.
Headquartered in California, Kos was founded in 2017 by Allan Stevens and Tony Stahl. The company entered the US market in 2018 with a range of plant-based protein and functional ingredients, including spirulina goji berry, and rhodiola root among others.
The company claims to use “transparent ingredients, responsibly sourced and additive-free”.
Since January 2020, Kos products are available for purchase in more than 400 Whole Foods Market stores across the US. Products are also on Amazon.
“The Kos plant-based protein is currently the #1 rated plant-based protein on Amazon and we recently added new functional blends such as Sippin’ on Shroom Boom, Holy Cacao! and A Whole Latte Gold to the line-up,” said Stevens. “We feel so fortunate to have outstanding partners in Springdale Ventures, Walter Robb and Jim Schneider, and are excited to continue offering plant-based power for all.”
Investors backing
Kos board member Genevieve Gilbreath, co-founder and general partner of Springdale Ventures, praised the company for its “first-class team”. She said the brand is a key player in a high growth category.
She explained: “Kos is taking an innovative approach both in terms of go-to-market strategy, effectiveness in connecting with consumers in a digital environment and maintaining a strong company culture in a booming space. We are confident and excited to support KOS’s bright future.”
Jim Schneider, chairman of Horizon Bank and former chief financial officer at Dell, concurred. He said: “Kos is the complete package. [Its] ability to reach people across all dietary preferences makes them a company destined for great things and we are happy to partner with them as they scale the business to new heights.”