A London based, food brand, has secured a £600,000 expansion loan from The Greater London Investment Fund. Adonis, an exciting, young brand in the health foods sector, aims to create a new generation of snacks that are: keto, plant based and low sugar.
Launched in 2015, Adonis was born from the founder’s interest in providing a healthy alternative to typical artificial and sugary afternoon pick me ups. The company has created a range of snacks that people can rely on to give them what they need: health, the right nutrition and a great taste. Their products suit people’s everyday lifestyles and are plant based, natural and keto to help people keep their focus and avoid unnecessary sugar.
With a rise in the amount of people taking an interest in what they eat, Adonis has seen a growing demand for their products. This has resulted in popular retailers as well as everyday and niche stores stocking their products. You can currently find their tasty snack bars in Wholefoods, Planet Organic, Ocado, Sainsbury’s as well as retailers in Germany and Austria. The loan will be used to hire new sales and marketing staff, to enter new food markets and to further the company’s technical development.
Ingo Braeunlich, CEO at Adonis said, “It is important to have normal snacks for normal people on normal days. Not everyone runs a marathon and needs instant sugar spikes, in fact many people are tired and unfocused after sugary snacks. Healthy low sugar snacks are definitely the future when looking at the needs of office workers and the wider urban population. Snacking is a market with very high growth, and we think it is key for any brand to be part of a solution rather than part of the problem. This funding will allow us to expand the team, push innovation and launch modern, healthy, and functional low sugar snacks. Plus, funding is a key element to success when expanding abroad.”
David Booth, Senior Fund Manager at The FSE Group, commented, “We are delighted to assist Ingo and his team with their expansion plans. The company has grown quickly with a firm focus on marketing and brand awareness. We were impressed by the team’s commitment to their chosen market and the commercial traction delivered to date. We look forward to supporting them on their journey and wish them all the very best for the future”
Maggie Rodriquez-Piza, CEO at Funding London, added, “It is our pleasure to support businesses which have the wellbeing of customers at the heart of their mission. A start-up with an incredible potential for growth, Ingo and his team have proven they are ready to conquer new heights. We are thrilled to accompany the team in their journey of expansion.”
GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.