Olyra Foods, a breakfast biscuit producer in the US, has secured investment from Bimbo Ventures, the venture capital arm of Grupo Bimbo.
Olyra Foods, headquartered in Delaware, has not revealed the financial specifics of the investment. However, the company has stated that it intends to utilize the funds to broaden its footprint in retail and online marketplaces.
Established in 2017, Olyra Foods markets breakfast biscuits that are influenced by the grain mill of CEO and Founder Yannis Varellas’ family in Greece. The company sells its assortment of breakfast biscuits online and in over 5,000 retail sites across the United States.
“Olyra, in a very authentic way, has tapped into a consumer need for more nutritious and delicious breakfast solutions,” said Constantino Matouk, VP of Bimbo Ventures. “We are excited to work with them to help grow the business and expand availability of Olyra’s products to more consumers.”
Olyra Foods offers three varieties of breakfast biscuits, as well as sandwich breakfast biscuits. The company’s newest addition to its product line includes filled breakfast biscuits in Peanut Butter, Almond Butter, and Double Chocolate flavors.
“These past few years have been exciting as we’ve worked toward offering consumers new nutritional breakfast options,” said Yannis Varellas, founder and CEO of Olyra Foods. “We are looking forward to working with Bimbo Ventures as we continue our growth and expansion into the market.”
Grupo Bimbo created Bimbo Ventures in 2017 to function as an in-house investment division, which assists food start-ups in establishing their businesses.
Grupo Bimbo’s venture arm has previously invested in other companies, including the snacks and cereals manufacturer LiveKuna in December 2021, and the vegan treats brand Rule Breaker in February 2021.
