Ketonico gains €1,1M in its first financing round to lead the European keto market

  • The startup, boosted by Vicenç Martí, Nico Andonakis and Víctor Sala, is valued at € 4.7M and plans to reach a turnover of €33M in five years.

The startup Ketonico, specialized in promoting keto philosophy and lifestyle, gained €1.1M in its first financing round. Created in 2020 by the entrepreneurs Vicenç Martí, Nico Andonakis and Víctor Sala, Ketonico develops and commercializes their own quality products with which seeks to improve people’s lives at the same time that it offers nutritional assessment, subscription services and an active customer follow-up.

The investment has been led by the two Swedish family offices Synarchy Ventures and 183 INVEST AB, which entered to be part of the Board of Directors together with Vicenç Martí, Nico Andonakis, Víctor Sala and a representative of Xocolating 1944. This Catalan company -promoter of Body Genius- has also participated in the financing round and, at the same time, has established a strategic alliance with Ketonico to foster the production of its products in its plant in Manlleu (Barcelona).

Parallelly, Ketonico has had the financial backing of a group of business angels such as Andrea Pereira, exVP & GM Still Beverages México in Coca Cola; Luís De Val, cofounder and CEO of YouPlanet; el Dr. Santos Martín, specialized in oncology; Carlos Domingo, founder and CEO of Securitize; Álvaro Bravo, cofounder and president of Aki Technogies, and Ferran González, partner of Cremades and Calvo Sotelo.

These resources will allow Ketonico to speed up its launching and subsequent consolidation in the South of Europe and Germany, a country with a recognized keto community. The investment will be used for branding, content creation, the purchase of raw materials and the recruitment of talent. The company has a team of 12 people located between Barcelona and Ibiza, but foresees to finish the year doubling the personnel until arriving to 24 employees.

The startup, which has been valued at €4.7M, has begun its first stage with the online commercialization of 10 productos and 4 subscription packs. The porfolio that plans to increase to 18 products by the end of this year and reach a hundred products by 2024.

Focus in Europe

Keto i son the rise and the US is its main market. After analyzing the European situation, Ketonico is seeking to capture 3% of keto followers by selling its products to more than 400.000 users. This milestone will allow Ketonico to reach a turnover of €33M in a period of time of five years, leafing the keto category in Europe.

Vicenç Martí, cofounder and president of Ketonico, explain that “keto has become a global tendence with a turnover of €10.0000M, of which €2.000M are located in Europe last year. The USA is the main keto market, while Europe -with more than 20% of market share (2019) – occupies the second position. However, it is expected to increase its growth during the following years. A third part of this market growth will be located in Europe.”

Nico Andonakis, cofounder and Head of Product of the company: “Ketonico covers a need originated by the market and seeks to positions as a source of information and content aimed at keto consumers, which are characterized by their interest and constant learning about nutrition, healthy customs and healthy lifestyle.”

Víctor Sala, CEO of the firm, highlights that “the added value of Ketonico is that we formulate our own products, based on the highest quality and best ingredients with ecologic certificate; we do not sell products of third-parties. Additionally, our products are not replicas of the competition.”

The differential value of Ketonico is completed with a board of advisors make up of Dr. Santos Martín, who treats cancer patients with the keto diet; Andrea Pereira and Dean Henry, who contribute with their knowledge and expertise in the growth and development of the business.