Just Spices, the German spice mix firm has announced that it has secured €13 million in Series B financing. Five Seasons Ventures and Coefficient Capital are the two firms leading the round with help from Bitburger Ventures. Before this round, the firm had raised an undisclosed sum in its Series A round which came 5 years back in 2015. Monkfish Equity and Döhler Ventures are the other two firms that have infused capital in the firm.
The firm was founded in 2012 by Bela Seebach, Florian Falk, and Ole Strohschnieder has revolutionized the spice market with its innovative spice mixes (natural and free from chemical additives), convenience and digitally-enabled experience offerings. The firm uses the online platform for its 60% sales with social media being the biggest medium. The firm is the most followed spices brand in Europe on social media.
Florian Falk, the CEO of the firm talking about his company and the innovations it brings in the food segment says that “The need for innovative, fast and still balanced solutions in the food sector is greater than ever,” says Just Spices co-founder and CEO Florian Falk. “On the one hand, people have less time available so food has to be as uncomplicated as possible, but on the other, we still have wants and need. Just Spices, and especially with IN MINUTES, we offer a carefree alternative, which consumers can be confident is fast and tasty whilst still fitting into a conscious, healthy diet.”
Coefficient Capital co-founder Franklin Isacson commenting on the funding said, “Just Spices engages brilliantly with today’s consumers online and offline to deliver exactly what they want. The new IN MINUTES category is just the latest example of how it innovates: imaginatively and at speed. We look forward to helping Just Spices fulfill their extraordinary potential.”
Five Seasons Ventures' Niccolò Manzoni says, “At Just Spices, we found four attributes that could make it a champion of the spices market. a strong team and culture led by Florian, Ole, and Bela, a deep understanding of consumer preferences, the ability to build a unique and engaged online tribe on social media and strong commercial traction. That is why we backed Just Spices.”
Image Courtesy : FiveSeasonsVentures