About

OLYRA is targeting the USA CPG food market. The consumption of food in the USA has shifted significantly towards healthier alternatives the past decades. In 2001 the natural, organic and functional Food & Beverage market in the USA was $1b and today it is more than $180 billion with an average yearly growth of $10+ billion. Moreover consumers in the USA are looking for breakfast snacks that fulfill three major pillars: convenience, good-sustained energy and of course mouthwatering taste. The problem is that the majority of breakfast snacks contain a lot of sugar with a large number of ingredients that usually consumers do not understand.

Solution & Product

OLYRA has introduced the first ORGANIC & HEALTHY breakfast biscuits. OLYRA combines the NUTRITION benefits of a bar with the taste of the TASTIEST biscuits. Our breakfast biscuits contain more protein, more fibers and less sugar than the best-selling breakfast bars and are more delightful than the best-selling cookies. OLYRA breakfast biscuits are made out of 4 ancient grains that were the basis of ancient Greek’s diet (spelt, lupine, oat, barley) and organic ingredients you understand! Each on the go pack offers sustained energy for more than 4 hours in order to start your day as a Greek legend! OLYRA products are the perfect solution for your modern, energy snack needs.

Innovation & Scalability

In 2018, OLYRA introduced in the US the first organic breakfast biscuits. In 2021, we introduced the first organic sandwich breakfast biscuits and in 2023 we are planning to launch the first organic filled breakfast biscuits! We have been always focused in offering to our customers new innovative formats that taste great and provide them sustained energy coming from stonemill wholegrains. OLYRA is currently sold at 10% of grocery stores in the USA. OLYRA launched in the market 3 products in 2018 and last year (2021) introduced 3 new items, totaling 6 products. Sky is the limit since OLYRA is outperforming several established billion dollar brands on a store level ($/Store/week) which clearly warrants more distribution (from 10% to 80%). Moreover, we are launching beggining 2023 a new line of products based on a new innovative format - filled breakfast biscuits that we strong indications that will become one of the best sellers in the US market.

Traction & achievements

We started selling biscuits in the US beginning of 2018. In fours year, we managed to enter more than 5000 stores nationally in key US retailers such as Sprouts, Whole Foods, Korger, Publix, Ahold and other as well as a number of independent stores. Most importantly our velocity ($/store/week) has been also growing fast. Today, OLYRA is considered as one of the highest growing breakfast bars in the US market based on SPINS data. IN addition, we are daily ranked in Amazon.com (US) as one of the best 3 wholegrains bars. OLYRA has been doubling its revenues since 2018 forecast to reach $4.5M in 2022.

Team & Why Us

Our team consists with enthusiastic people with wide experiences: tYannis, the CEO and founder, is a chemical engineer and leads sales and product development. Yannis is based in the US. tGeorge has studied engineer and holds & MBA. He overviews operations and finance and has more than 20y experience on food and construction multinationals tKaterina is a chemical engineer and overviews production and product development tFaye supports on logistics and procurement tSofia supports the e-commerce and coordinates marketing activities OLYRA has already created a significant customer base in the US market. Our strategy is to continue to grow our distribution as well as $/store by introducing new innovative products with a vision to establish a brand in the US market.

Funding Needs

Working Capital: OLYRA is producing all products in Greece and then shipping them in the US. The working capital cycle is 6 months. Due to our fast sales growth our working capital needs are becoming important. So far we have been financing working capital via equity (capital increases). Organisaton & Marketing: In order to continue our growth, we need to invest in organisation (sales & Marketing people) as well as in marketing activities (mainly shopper marketing activities) We are currently looking to raise $4M.