Consumer packaged goods (CPG) producer Post Holdings led a $12.5m series B round for US-based snack chip brand PeaTos yesterday that took its total funding to $19.5m.
Peatos produces snack chips that adds peas to the corn base of traditional chips to enhance the level of protein and fibre. Its products are available in some 4,700 retail outlets across the United States.
The company said it had previously raised $7m in a series A round less than six months ago but did not disclose the identity of the investors nor the other participants in its latest round.
Nick Desai, founder and chief executive of PeaTos, said: “We are honoured by this investment from Post and their confidence in the PeaTos brand.
“Post has a long history of success in the CPG space and we are honored to have them as part of our mission. The proceeds of this funding round will give us the ability to further execute on our ambitious strategic plan.”