Lotus Bakeries‘ company enterprise fund, FF2032, has acquired a minority stake in Boston-based better-for-you meals producer, IQBAR.
FF2032 turned a lead investor in IQBAR’s latest Series B funding spherical, aiming to help the model’s development and improvement.
Founded in 2017, IQBAR has created a line of plant-based diet bars, every containing 12g of protein and 6 “mind” vitamins that help cognitive efficiency, equivalent to omega-3 oils, vitamin E and choline. The bars are vegan, keto- and paleo-friendly, and are free from gluten, dairy, sugar alcohol and soy.
The bars are available seven flavours, together with chocolate sea salt, lemon blueberry, almond and matcha chai. IQBAR additionally sells a spread of zero-sugar hydration mixes.
Will Nitze, founder and CEO of IQBAR, mentioned: “The finest partnerships are these the place all members assume long-term and prioritise doing enterprise the fitting method. This is a kind of particular partnerships. We sit up for leveraging Lotus’ deep operational expertise to speed up IQBAR’s development.”
Jan Boone, CEO of Lotus Bakeries, added: “So far, IQBAR has already proven good traction with shoppers and we now have robust perception the model will proceed to carry out robust. We imagine within the workforce and we particularly admire Will’s hyper-focus on enterprise fundamentals, meticulous execution and strong capital effectivity.”