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Food tech company Nick's raises $100 million in funding round

By Reuters

<div> <p><span class="caps">STOCKHOLM</span> – Swedish food tech firm Nick’s said on Thursday it had raised $100 million in a funding round led by investment companies Kinnevik, Temasek and Ambrosia Investments.</p> <p>Nick’s, which makes sugar-free snacks and ice cream, said Oatly investor Gullspang, venture capital firm Peak Bridge, fund Capagro and investment company Nicoya also participated in the round.</p> <p>The company said the funding will be used to bolster growth in Europe and the United States, expand the product portfolio and double its store count in 2022.</p> <p>“Nick’s will also make significant investments in R&D efforts,” it said in a statement.</p> <p>Nick’s said it had expanded to 6,700 stores this year in the U.S. from 4,500 stores in 2020, and doubled its ice cream business in its home market Sweden.</p> <p>Including the latest financing round, Nick’s has raised $160 million to date. Founded in Sweden four years ago, it has expanded to 16 markets including Britain.</p> <p/> </div>