With a new inflationary economic scenario, high interest rates and greater investment selectivity, Liv Up continues to attract new partners and has just announced that it has raised Rs 26 million in a minority investment from Minerva Foods’ corporate venture capital arm. in an expansion Series D funding round led by Lofoten Capital and involving Kaszek Ventures, ThornTree Capital and Globo Ventures, totaling around Rs 265 million.
“Since early 2022, in anticipation of a challenging year, we have quickly adapted our strategy to fully focus on operational efficiency and channel diversification to continue to grow our sales in a sustainable manner. We now see that the team’s hard work has paid off and attracted investors with a long-term vision that is very much in line with ours,” comments Victor Santos, founder and CEO of Liv Up.
Operating in 10 states in Brazil and reaching over 40 cities via website and app, Liv Up is currently working to make its ready-to-eat and healthy meals available through new distribution channels, bringing even more convenience to its loyal customers. consumer base. To do this, he started partnerships with some of the main retailers in the country and after a few months he is already among the top 5 brands with the highest turnover in the banner frozen food sector where he works, strengthening the appeal of his brand, the quality of his products and gaining momentum for an aggressive expansion plan in 2023.
“We use all of our customer knowledge and insights gathered from 6 years of sales through our own channel to successfully enter the retail market with the scale needed to optimize our margins,” says Gabriel Eisencraft, CFO of foodtech.
In this context, Liv Up intends to take advantage of Minerva Foods’ broad base of commercial partnerships to accelerate its expansion, as well as leverage its operational history and deep knowledge of the meat chain to further enhance its operations.
“We are delighted to be partnering with a company that speaks directly to today’s consumer and is at the forefront of discussions about health and value chain impact. This is yet another investment in our corporate venture capital area that is connected to our business and opens up synergies and commercial opportunities, as well as allowing us to contribute through our experience in the food market,” said Edison Tickle, Chief Financial Officer of Minerva Foods.
About Liv Up
Liv Up is a Brazilian food technology for healthy eating, present in more than 40 cities in Brazil. On the market for 6 years now, the company currently has about 500 employees and a production area of 10,000 m². The basis of its production is organic and familiar, and today it has about 30 manufacturing partners. In addition to quick-frozen meals, Liv Up also offers delivery of salads, rolls and pizza.
The mission of the brand is to connect people with really good food, offering healthy food without much effort for different moments of consumption, with a charming experience and contributing to a positive impact along the entire production chain. Using customized technologies, foodtech worked to create a more efficient, transparent and sustainable food system for the entire country.
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Source : Married Games
