PeaTos secures new funds as snacking booms under Covid-19 pandemic

US-based snack food brand PeaTos has secured fresh investment in a Series A funding round to boost its presence in the $21bn market for salty ‘junk food’ style snacks.

The $7m investment round was led by Jackson Springs Management Partners (JSMP) and Connetic Ventures.

The round was also joined by celebrity investors such as basketball player Tracy McGrady.

PeaTos founder and CEO Nick Desai said: “While the global pandemic has been a very challenging time for so many, PeaTos has been fortunate to see strong growth in all channels.

“We are ecstatic to have received such an enthusiastic response to our raise, as well as to welcome Greg Pearlman of JSMP to the Board.”

PeaTos are available in two styles, including crunchy curls and crunchy rings, and in five flavours such as Classic Cheese Curls, Fiery Hot Curls, Zesty Ranch Curls, Classic Onion Rings, and Fiery Onion Rings.

The company claims that its snacks are produced from peas and natural ingredients using its proprietary techniques.

It further added that all its products are gluten-free and non-GMO, with no added MSG or artificial ingredients and two times more protein and three times more fibre.

PeaTos are available in more than 4,700 retailers, including Kroger and its banner stores like Dillons, Ralphs, Food 4 Less and Smith’s, as well as at Vons, Pavilions, Albertsons, Safeway, Sprouts, and online on PeaTos.com, BetterSnacks.com, and Amazon.com.

Connetic Ventures chief investment officer Kyle Schlotman said: “By coupling with a data company like ours that challenges the existing VC paradigm by adding AI and machine learning to find companies is in itself a disruptive move and says a lot about the forward-thinking ability of PeaTos leadership.”