Combuy manufacturers attract 0.6 million for development abroad. Eur

Rokas liupas (left) and Robertas Kupstas, UAB Funkciniai grimai krjai. Company photo

UAB Funkciniai grimai, a manufacturer of Ohm! Eur investment venture capital fund CoInvest Capital and 7 business angels. Vikonda Group contributed to the transaction as a strategic investor.

According to the report, it more than quadrupled in 2020. Ohm! Bucha’s markets are still being evaluated, but the products are planned to be delivered to the Scandinavian countries of Central and Western Europe.

According to Robert Kupst, one of the Functional make-up producers is growing, although there is still great potential for natural make-up in Europe.

We solve two problems by creating products that are not only delicious, but also beneficial to the human body, and trying to keep the price of such products as low as possible. These costs require large investments, so it is important for us to have partners who support the company’s vision, R. Kupstas, Head of Functional Sales, is quoted in the report.

Functional make-up, created by R. Kupst and Roko lyupas, started last year. According to the credit bureau Creditinfo, the company’s revenue in 2020 amounted to EUR 51,400.

V ra, that last year, together with 4 business angels, the Co-investment Fund invested EUR 168,000 in Functional Grimm.

Investors are aware of the huge potential in the field of food technology, which was further eroded during the pandemic. This is the second investment of the fund. We especially appreciate the fact that for the first time strategic investors contributed to the deal, who decided not to develop new products themselves, but rather to help young and successful businesses expand and experiment, says Viktorija Vaitkeviien, Director of CoInvest Capital.

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Vikonda Group, a strategic investor, will also contribute to the development of young businesses.

Innovative functional food is one of the development directions of the Vikonda Group, therefore we are intensively looking for opportunities to supplement our field of activity in the respective field. Our mission is not only to contribute to the planned development of finance, but also to advise and help develop the competencies needed to ensure high-quality and stable growth, says Mindaugas Snarskis, CEO of Vikonda Group.

Ohm! Bucha is sold by the major retail chains Lidl, Iki, Norfa and Aib. In the future, the company’s products should be supplemented with alcoholic cubes and gums made from fermented tea.

In developing new products, the company is working with scientists and technologists to work with researchers at the University of Dortmund in Germany to find a solution to extend the life of a good combination.

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