SevenVentures invests in emerging food start-up KoRo
Unterföhring, April 20, 2023 – SevenVentures, the investment arm of ProSiebenSat.1 and part of the Group's Commerce & Ventures segment, is taking a high, single-digit million stake in KoRo Handels GmbH, a Berlin-based omnichannel food brand, via a media-for-equity investment. KoRo offers innovative, vegan and vegetarian foods primarily through its own e-commerce platform. In the course of its extended Series B financing round with other renowned investors such as HV Capital and Five Seasons Ventures, SevenVentures acquires shares in the food brand. The up-and-coming start-up reached the finals of the SevenVentures Pitch Day, SevenVentures' own start-up competition, as early as 2021.
Florian Hirschberger, CEO SevenVentures: "Media investments play a special role in our Group strategy and this is exactly what our investment in KoRo underlines. We are investing here in a fast-growing food company that we already know from our SevenVentures Pitch Day. This shows how we at SevenVentures keep an eye on promising companies in the long-term. We believe in KoRo's strategy to make high quality and innovative food products accessible to a broad market. In doing so, we can contribute to the company's success with ProSiebenSat.1 Group's channels by further strengthening the brand and promoting growth. We look forward to working with the KoRo team."
Florian Schwenkert, COO KoRo: "Through the investment of our new partner SevenVentures and an associated broad-based media campaign, we want to push the further development of KoRo into a product-focused omnichannel brand. In this way, we want to reach even more customers on all channels and provide access to innovative, vegetarian and vegan products. In the future, the KoRo brand will also be placed in TV campaigns and thus presented to a bigger audience – ProSiebenSat.1 Group's wide-reaching TV channels with their affinity to our target group are the perfect environment for this."
KoRo became known as an online shop with a range of long-life, natural and processed foods in bulk packs. With an additional focus on the retail business, the stationary trade is now to be used more strongly as a sales channel and cooperation with retail partners throughout Europe is to be promoted. By skipping trade stages, efficient process flows and bulk packaging in a simple design, the trading company founded in 2014 makes high-quality goods at fair prices accessible to all and thus makes the social trend towards healthier and more sustainable food affordable for a broad target group. In this way, KoRo was able to save 57 tonnes of plastic packaging last year and contributes to the sustainable change in the food industry thanks to a range with 60% vegan and 40% organic content.
With this investment, SevenVentures underlines its expertise in sustainably building up consumer-oriented start-ups through individually tailored investments and raising their profile via ProSiebenSat.1's high-reach TV and digital channels. In this way, Seven-Ventures supports KoRo in taking the next step in its development: increasing brand awareness and addressing an even broader market.