LEMBEKE, BELGIUM — FF2032, the corporate venture fund for Lotus Bakeries, announced the closing of its minority investment in better-for-you food business IQBAR.
FF2032 was created with the ambition to create a platform for investment in brands with promising growth within innovative products, technologies or market approaches within the food and beverage territory. The fund acted as lead investor in IQBAR’s Series B round to support the company’s growth.
IQBAR was founded in 2017 by CEO Will Nitze when he became curious about the relationship between nutrition and brain function in a person’s overall health.
“I’m elated to have FF2032 joining us as a partner,” Nitze said. “There are few companies that run so smoothly across so many international markets while still embracing calculated bets on the future. It’s an honor to be one of those bets.”
The Boston-based company’s main product line is its set of plant-based nutrition bars. Each bar is keto, paleo-friendly and vegan, and includes six brain nutrients and 12 grams of plant protein. Additionally, the products are gluten-, dairy-, soy- and sugar alcohol-free.
“Will has created a bar brand that ticks all the boxes in a massive and growing category,” said Jan Boone, CEO of Lotus Bakeries. “So far, IQBAR has already shown good traction with consumers, and we have strong belief the brand will continue to perform strong. Furthermore, we believe in the team and we especially admire Will’s hyper focus on business fundamentals, meticulous execution and solid capital efficiency.”
