10X Innovation takes over food startup Karl Karlo®
Berlin, April 17th, 2019
Karl Karlo® stands for sustainable and innovative food. As one of the first Hungry Ventures portfolio start-ups, the Berlin-based company successfully launched its healthy Energy Balls in early 2018. Meanwhile, 10X Innovation GmbH & Co. KG has taken over the Karl Karlo® brand and is currently working on developing the snack further.
The snacks for in-between meals with a high protein and caffeine content provide long-lasting energy and guarantee a continuously high level of concentration. Resource-efficient packaging and high-quality ingredients play a key role at Karl Karlo®. Consequently, the products are made of 100% natural organic ingredients with no added sugar. Additionally, every purchase supports a charitable project.
“As a start-up in a highly competitive market, we were very fortunate to win over such a well-connected and strong partner as Hungry Ventures at an early stage,” explains co-founder Malte Lorenz, who built up the Karl Karlo® brand together with Henrik Rackow. Taking the role of a strategic partner, Hungry Ventures provided access to its extensive network and delivered continuous management support. Prof. Dr. Bastian Halecker from Hungry Ventures is satisfied with the development: “We are pleased to see that Karl Karlo® continues its successful course as an innovative brand under the umbrella of a strong partner and is able to further strengthen its market position”.
“Having established Karl Karlo® as a new brand for high quality snacks, now is exactly the right time to start the next phase of growth with 10X Innovation,” says Henrik Rackow about the merger. “The experienced 10X Innovation team has impressed us with its entrepreneurial approach, global network and deep market understanding and will help the newly formed management team take Karl Karlo® to the next level”. Currently 10X Innovation is working on a relaunch. The further developed Energy Balls will be launched this summer in new flavours, sizes and a revised packaging design.