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Grupo Bimbo Invests in LiveKuna in Series A Funding Round; Constantino Matouk, Santiago Stacey, and Carlos Gutiérrez Discuss

Grupo Bimbo Invests in LiveKuna in Series A Funding Round; Constantino Matouk, Santiago Stacey, and Carlos Gutiérrez Discuss


QUITO, ECUADOR
Tuesday, December 7th, 2021

Plans for expansion and growth are in the works for LiveKuna as the vertically integrated superfood company announced a Series A round of funding led by Grupo Bimbo with participation from SOSV and AMADEO. With this latest partnership, Grupo Bimbo will help support the Ecuadorean company’s plans to expand distribution in the United States, Canada, and Mexico; strengthen the North American team; and increase the network of farmers.

Constantino Matouk, Director of Bimbo Ventures, Grupo Bimbo“LiveKuna exceeds the expectations of today’s consumers, delivering clean-label snacks and traceable ingredients without sacrificing taste,” said Constantino Matouk, Director of Bimbo Ventures at Grupo Bimbo. “As we double down in the better-for-you category, we know LiveKuna—a purpose-led brand committed to sourcing superfood ingredients from family farms—will push the limits of what’s possible in snacking.”

Before launching LiveKuna, Co-Founders Carlos Gutiérrez and Santiago Stacey set out to find Ecuadorian farmers who were growing superfoods, committing early on to sourcing from family farms. Today, they work directly with nearly 500 environmentally friendly farmers from their home country to source chia and quinoa, telling a story of who, when, and where the ingredients come from. LiveKuna’s vast portfolio of natural products includes gluten-free flours, pastas, cereals, seeds, and grains in addition to its growth-driving line of superfood snacks KunaPops.

LiveKuna announced a Series A round of funding led by Grupo Bimbo with participation from SOSV and AMADEO

This summer, LiveKuna launched KunaPops in the U.S. at all 364 Sprouts Farmers Market locations. Revenue for the quinoa and chia puffed snacks doubled from 2020 to 2021 YTD, already proving to be a major growth driver for the brand.

As LiveKuna looks ahead to the next five years, the company expects to grow at double digits year-over-year and build upon its portfolio. The brand will introduce sweet KunaPops in both a cereal and snack format in Q1, an extension of the popular line of snacks.

Santiago Stacey, Co-Founder and Chief Executive Officer, LiveKuna “Both LiveKuna and Grupo Bimbo have exciting advancements on the horizon,” said Co-Founder and Chief Executive Officer of LiveKuna Santiago Stacey. “Joining forces to help push the food category forward was a no-brainer. As we look to launch new innovations, we’re positive our synergy will help create even better healthy options for consumers.”

Furthering their partnership, a Grupo Bimbo representative will join LiveKuna’s Board of Directors, adding to the brand’s industry expertise.

Carlos Gutiérrez, Co-Founder and President, LiveKuna“We’re thrilled to bring Grupo Bimbo’s experts into the fold,” said Co-Founder and President Gutiérrez. “They have a long history of working with top CPG brands in the food industry, and their category know-how will be instrumental in evolving the LiveKuna brand.”

According to the release, the two companies began working together in July 2020, when Grupo Bimbo selected LiveKuna from a competitive pool of applicants to develop a superfood bread. The bread, created with LiveKuna’s sustainably grown and traceable chia and quinoa, went to market in record time and continues to thrive at Ecuadorian supermarkets nationwide.

As LiveKuna looks ahead to the next five years, the company expects to grow at double digits year-over-year and build upon its portfolio

Additionally, LiveKuna offers a true omnichannel experience to consumers, with products available at regional and national retailers and online at Sprouts Farmers Market, Ralphs, Amazon, SnackMagic, Gopuff, among others.

Keep an eye on all the rising brands and investments pushing the industry forward with Deli Market News.

Grupo BimboLiveKuna
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