LOS ANGELES — Quantum Energy Squares raised $2.5 million in a seed funding round. In addition, Major League Soccer star Jozy Altidore joined the brand's expanding lineup of investors.
Mr. Altidore joined a roster of investors that includes tennis players Sloane Stephens, Mike Bryan and Sam Querrey, and Jim Buechler, former president and chief executive officer of Ballast Point and Cutwater Spirits.
Quantum Energy Squares launched in 2019 with a line of plant-based, coffee-infused energy bars. Featuring balanced micronutrients from fruits, seeds and nuts and MCT oil to help slow caffeine absorption, the bars provide long-lasting energy while avoiding the spikes and crashes that come with coffee and sugary snacks. The energy bars are gluten-free, non-GMO, soy-free and dairy-free and are available in dark chocolate pink Himalayan salt, caffe mocha almond chip, peanut butter dark chocolate and coconut almond chocolate chip varieties.
“There are so many sugary, carb-heavy snacks and bars on the market claiming to be healthy, but they’re really not much different than candy bars in terms of ingredients and nutritive value,” said Dan Medvene, founder of Quantum Energy Squares. “A cup of coffee might bring a temporary boost of energy, but it lacks essential nutrients. Consumers need healthy energy, and they need it to last.”
Quantum is aiming to be the go-to energy brand for athletes and everyday health-conscious consumers, he added. The brand recently launched nationwide in Whole Foods Market and Sprouts Farmers Market and is the official energy bar of IronMan triathlons and Rock ‘n’ Roll Marathon events across North America.
The brand is focused on growing its reach in the natural channel and expanding into the sports and convenience channels in 2021, Mr. Medvene said. It will use the funds from its seed round to support marketing, sampling and events.
“The COVID crisis has made it more important than ever to focus on health and better-for-you eating choices,” Mr. Medvene said. “Consumers are looking for clean, plant-based nutrition and healthy sources of energy to get through busy workdays at home and staying active, so we’re ramping up our efforts to share Quantum online, increasing sampling and promotions in natural foods stores and supporting active consumer events.”