Undercover Snacks offers minority stake to investors as is looks to scale production and increase marketing efforts
New Jersey-based healthy snack start-up Undercover Snacks has raised $13.7 million in equity investment from Octagon Capital Holdings, 900 Chocolate Investors and the company’s founders.
It plans to spend the funds on increasing its marketing efforts to support the company’s retail ambitions, including partnerships with major retailers and campaigns to bolster upcoming product launches.
Undercover Snacks is also looking to grow its management team and expand its product facility to support new product lines.
The company product portfolio includes low-calorie, chocolate-covered quinoa snack that are gluten-free and high in protein.
Diana Levy, founder, co-owner and CEO of Undercover Snacks, said: “With this equity investment, we will expand our production facilities and invest in our product development, marketing and sale strategies in order to continue to bring innovative and crave-worthy snacks with favourable nutritional characteristics to the market.”
Undercover’s chairman and managing partner at Octagon Capital Holdings Michael Levy said, “”Undercover will expand its marketing programs in collaboration with major retailers to continue building trial, awareness, momentum and long-term customer loyalty.”
Investors will receive a minority stake in Undercover Snacks as part of the equity financing round.
In June, Undercover Snacks increased its retail presence, adding 5,000 new retailers to its distribution list.
Date published: 22 July 2021