LiveKuna Closes Funding Round To Support North American Expansion

Superfood snack maker LiveKuna announced today it closed a Series A funding round led by global bakery company Grupo Bimbo with participation from SOSV and AMADEO. LiveKuna said it will use the funds to support distribution expansion throughout the U.S., Canada and Mexico and to continue growing its team across North America.

The round officially closed in October. Details of the transaction, such as the amount of capital raised, were not disclosed.

In addition to expanding its operations, LiveKuna plans to amp up its supply chain by adding new chia and quinoa farmers to its network. Currently, the company works with 500 family owned and operated farms across Ecuador that utilize sustainable, environmentally-friendly farming practices.

“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 in a press release. “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.”

Founded in Ecuador in 2014 by Carlos Gutiérrez and Santiago Stacey, Live Kuna was born from the two entrepreneurs’ frustration with the high-volume of chia grown, but then exported from the country. They saw a gap in the Ecuadorian food industry and aimed to increase the superfood’s presence within food products in the country it was originating from. Since then, the company has expanded into the U.S, earlier this year launching its flagship chia and quinoa puffs, KunaPops in all 364 Sprouts Farmers Market locations.

According to a press release, the brand will extend its KunaPops line early next year to include a sweet flavor in both a puff and a cereal format. However, in Ecuador LiveKuna’s portfolio also features a range of products reaching far beyond the snacking category including probiotic powders, superfood pasta and green banana and quinoa flours. The company has also expanded its ingredients list beyond its original chia and quinoa focus, innovating with superfoods such as kale, garbanzo beans and moringa.

LiveKuna has also been working to build up an omni-channel distribution strategy, adding Ralph’s to its retail footprint and launching its snack products on Amazon, SnackMagic and with Gopuff, among others.

This funding announcement also comes on the heels of significant expansion for Grupo Bimbo this year as the multinational corporation looks to expand its better-for-you offerings. The Mexico-based baking company, which owns over 100 brands including iconic bakery companies such as Sara Lee, Entenmanns, and Thomas, has closed a string of deals including the acquisition of gluten-free and vegan cookie brand Emmy’s Organic in August, gourmet popcorn company Popcornopolis last month and, in February, took a a minority stake in allergy-friendly baked good brand Rule Breaker Snacks.

The relationship between LiveKuna and Grupo Bimbo originally began in July 2020 when the superfood focused brand was selected as the winner of a competition hosted by Grupo Bimbo to co-develop a superfood bread with the global baking company. The bread was introduced in Ecuadorian supermarkets nationwide and, in tandem with that launch, LiveKuna also added a Grupo Bimbo representative to its Board of Directors.

“Both LiveKuna and Grupo Bimbo have exciting advancements on the horizon,” said Co-Founder and CEO Santiago Stacey in a press release. “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.”