Clio Snacks secures fresh investment in Series C funding round

Greek yoghurt bar manufacturer Clio Snacks has secured $8m in a Series C funding round after registering a year-on-year growth of more than 100%.

The round was led by Clio’s investment partner Alliance Consumer Growth (ACG) and joined by venture capital fund AF Ventures.

Clio Snacks president Heather Cox said: “People try Clio because of its functional attributes but come back again and again because it tastes so delicious. Clio has disrupted the refrigerated bar and yoghurt categories by bringing in new consumers for an indulgent snack or dessert occasion.”

Established in 2015, Clio Snacks introduced the world’s first mass-market Greek yoghurt bar, which is currently offered in a wide range of sweet and tart flavours.

The bars are said to be produced using whole milk Greek yoghurt and wrapped in dark chocolate, which is claimed to offer the benefits of high protein and probiotics.

In addition to the year-on-year growth, the brand is also said to have registered a distribution growth exceeding 57% through deals with retail partners such as Whole Foods, Target, and Wegmans.

ACG co-founder and managing partner Julian Steinberg said: “Clio is at the forefront of the healthier snacking movement with its unique and creative snacking options.

“The brand has found the perfect balance between indulgence and better-for-you consumption, which is evidenced by its impressive growth in terms of distribution and performance on-shelf.

“We are thrilled to support Clio’s continued growth and look forward to seeing the company evolve as a leader in the fresh snacking category.”

In a separate development, plant-based protein and functional ingredient supplements provider KOS also raised a capital investment of $2.1m through a financing round.

This was led by Springdale Ventures, former Whole Foods CEO Walter Robb, and Horizon Bank chairman Jim Schneider.

With this new funding, KOS intends to strengthen its presence in the US and expand its footprint into new markets.