Lub Foods secured $20M for expanding into the US.

Lub Foods, a Stockholm, Sweden-based food manufacturing company, announced the completion of a SEK 190M ($20M) capital investment round.

The funding will be used to fuel the company's efforts to expand in the USA.

Lub Foods (Luthman Backlund Foods AB), founded in 2013 by CEO Carl Backlund and Niclas Luthman, manufactures and markets tasty and healthy snacks, protein bars, confectionery, ice cream, sweeteners and other "functional foods" under the brand names NICK's, Sukrin and Baby Foot.

Prior to this deal, in 2019, Lub Foods raised about $2M from the Malta-based investment firm PeakBridge Partners.