US meat snacks business Stryve Biltong has revealed it has raised US$16.5m in a Series B investment round.
The Texas business – unusual in the US for manufacturing biltong rather than the more popular local meat snack jerky – said it will use the money to expand its marketing efforts.
The funding round was led by Meaningful Partners, Pendyne Capital and Murano Group.
Stryve has recently added experience to its leadership team and board in the shape of Jaxie Alt, an 18-year industry veteran previously with Dr Pepper Snapple Group, who has joined as chief marketing officer, and Peter Rahal, founder of protein bar company RXBAR, who has joined 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.”
Stryve 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.”
Stryve was founded by Casey, founder of sports nutrition business Dymatize, former NFL first round draft pick Gabe Carimi and Joe Oblas, founder of sports nutrition firm ProSupps.