US-based snack producer Stryve Biltong has raised $16.5m through a Series B investment round.

The funding round was led by Meaningful Partners, Pendyne Capital and Murano Group.

In addition to raising capital, the company has expanded its board and executive leadership team by appointing consumer packaged goods (CPG) expert from Dr Pepper Snapple Group, Jaxie Alt, as Chief Marketing Officer (CMO) and RX bar founder Peter Rahal to the Board of Directors.

Rahal said: “Stryve is at a really exciting place in its development, and I look forward to bringing my experiences in CPG to the table to help accelerate the brand’s growth.”

“We have an aligned strategy for growth and are rapidly moving to put all the pieces in place to achieve it.”

With this investment, the company intends to expand its marketing efforts to drive education, awareness and trial. It also intends to continue making investments in talent and operations.

Stryve Biltong co-founder and chairman of the board Ted Casey said: “The past year has shown that there is a huge demand for clean protein snacks in the US, and we have assembled an experienced team of brand builders to help us shape the future of meat snacks and clean protein snacking with Stryve Biltong.

“We have an aligned strategy for growth and are rapidly moving to put all the pieces in place to achieve it.”

Based in Plano, Texas, Stryve Biltong was established by former NFL player Gabe Carimi and sports nutritionists Ted Casey and Joe Oblas to provide a snack that contains zero sugar and high levels of protein.