IQ BAR Closes $1 Million Seed Round Funding and Introduces New-and-Improved Recipes
New bars include more plant protein, less sugar, no sugar alcohols, and two new flavors.
Boston, MA — August 2, 2019 — Today IQ BAR, known for launching the first "brain food" bar in 2018 through a viral Kickstarter campaign, announced its recent $1 million fundraise, the company’s largest funding to date, led by a group of Boston-based angel investors. At the same time, IQ BAR has released a revised line of bars with several nutritional advancements and two new flavors – Banana Nut and Blueberry. Starting today, the new bars are available through IQ BAR’s website and Amazon.com.
“Raising new funds allowed us to drive major product R&D advancement, better serve our customers’ needs, and distribute to a much broader audience,” said Will Nitze, Founder and CEO of IQ BAR. “Through extensive surveys, we’ve found our customers buy IQ BARs for four primary reasons: brain nutrition, plant protein, low sugar, and clean ingredients. With the release of our latest bars, we've driven improvements across all four variables.”
The new IQ BARs have a unique mix of 6 brain nutrients, 10-11g plant protein, 4g net carbs, and <1-1g sugar. They’re the only bars on the market that include the Lion’s Mane adaptogen and are one of very few ketogenic-compliant bars that incorporate real fruit and no sugar alcohols. In lieu of typical keto-friendly sweeteners like erythritol and sucralose, IQ BAR has opted for allulose – a naturally occurring, non-GMO compound the FDA just recently recognized as a non-sugar given its glycemic index of zero.
In addition to various e-commerce channels, consumers can find IQ BARs at 4,000 CVS locations across the US, in several natural grocery chains, and in hundreds of gyms, cafés, and eateries in New England and New York. IQ BAR plans to expand its grocery footprint by several thousand new locations in 2019, with more details on this expansion to come in the next quarter.
About IQ BAR
IQ BAR is a Boston-based brain and body nutrition company founded by Will Nitze. Will founded the business after resolving his chronic bouts of mental fatigue through a high-fat, low carb diet, and in response to his frustrating realization that no ready-to-eat “brain food” products existed on the market. IQ BARs are the first nutrition bars on the market built for mental and physical performance, and are made with clean, natural ingredients rich in nutrients shown to drive acuity and strength. Each bar contains 6 brain nutrients, 10-11g plant protein, 4g net carbs, and <1-1g sugar, and is compliant with keto, paleo friendly, vegan, and kosher diets.