Kencko Secures Funding to Revolutionize Fruit & Vegetable Consumption

Kencko Secures $10 Million in Series A Funding for Expansion

Kencko, a company specializing in plant-based smoothies that require no blender, has successfully raised $10 million in a Series A funding round. This capital injection will facilitate the company’s expansion into new product categories.

Investment Details

Siddhi Capital, an existing investor, spearheaded the funding round. Participation also came from a diverse group of both current and new investors. These include Next View Ventures, Riverside Ventures, Silas Capital, Cheyenne Ventures, Shilling Capital, Indico Capital, Mission Point, Gather Ventures, and Nextblue Ventures.

This latest funding round elevates Kencko’s total funding to exceed $13.5 million.

Company Background

Kencko, a name derived from the Japanese word for “health,” initially gained attention in 2019 with a $3.4 million seed round. At that time, the company offered six smoothie flavors and was preparing to introduce additional products.

Currently, Kencko boasts a selection of over a dozen organic smoothie flavors, alongside four distinct gumdrop flavors. Their innovative freeze-dried technology allows consumers to obtain 2.5 servings of fruits and vegetables per smoothie, while the gumdrops provide one serving.

Product Characteristics

A key differentiator for Kencko is its commitment to natural ingredients. All products are formulated without refined sugars, artificial sweeteners, or any artificial additives.

Market Position and Competition

Kencko is establishing a strong presence within the rapidly expanding global health and wellness market. Projections indicate this market will reach a value of $7 billion by 2030.

The company operates in a competitive landscape, with other ventures also attracting significant investment. For instance, Athletic Greens, the creator of the AG1 nutritional beverage, recently announced $115 million in funding, resulting in a pre-money valuation of $1.2 billion.

New Product Launch

Coinciding with the funding announcement, Kencko is introducing its newest offering: heated bowls. These will become available to consumers later in February.

Sustainability Initiatives

Kencko prioritizes sustainability by diverting fruits and vegetables from landfill waste. Over the past year, the company shipped more than 10 million freeze-dried smoothies, equivalent to approximately 660 tons of fresh produce.

Furthermore, Kencko is aiming to achieve complete carbon neutrality by 2022.

Growth and Future Plans

The company has experienced substantial growth, averaging over 500% annually for the past three years, according to Tomás Froes, co-founder and CEO.

By the end of the previous year, Kencko had amassed nearly 360,000 members, representing a 173% increase from 2020.

Froes stated that the new funds will be allocated to enhancing and scaling Kencko’s supply chain and expanding its in-house manufacturing capabilities.

The company has recently surpassed 100 employees and intends to double its workforce within the next 12 months.

“This investment allows us to increase ‘Kencko moments’ for our members – providing convenient nutrition throughout the day,” Froes explained. “Our focus remains on assisting individuals in adopting healthier lifestyles by increasing their daily fruit and vegetable intake. We are developing several innovative products and plan to explore brick-and-mortar retail opportunities in the coming year.”