PLANO, TEXAS — Protein snack brand Stryve Foods L.L.C. has closed a $10 million funding round led by Meaningful Partners and Murano Group.
Stryve was founded in 2017 by former National Football League player Gabe Carimi, Dymatize founder Ted Casey and Prosupps founder Joe Oblas. The company’s product portfolio includes chicken and turkey bites, beef and turkey sticks, and biltong, a South African cured and sliced beef protein snack made with little to no carbohydrates, sugar, nitrates or additives.
The investment will allow Stryve to build awareness for its biltong meat snacks as a paleo-friendly alternative to beef jerky, the company said, as well as build out its new manufacturing and distribution facility.
"This will be a huge opportunity for us to keep up with our significant product demand and scale our business to make biltong more accessible everywhere in the U.S.," said Mr. Carimi, chief executive officer of Stryve Foods. "We've already shown tremendous growth since we started in the summer of 2017, and we're ready to take our expansion to the next level."
Meaningful Partners is an investment firm focused on mission-oriented, consumer facing brands offering better-for-you food and beverage offerings.
"We are excited to have the opportunity to partner with the outstanding team at Stryve,” said Jake Capps, founder of Meaningful Partners. “They have a differentiated and phenomenal tasting product that is truly good for you in a fast-growing snack category. We have great confidence that the team will continue to grow Stryve to become a leading meat snack company offering specialty products, including biltong, to grocery, mass, club and convenience stores nationwide who are seeking a healthy snack alternative with a clean label and incredible taste."