The funding round was led by M3 Ventures and Sweat Equities, and the funding raised will be used to finance the brand’s expansion into the southwest, midwest and northeast of the US.
Dairy-free beverage producer Mooala has raised $5 million of equity capital in response to surging market demand. The financing comes at a time of rising popularity and increased availability of the brand and its organic, plant-based beverages throughout the United States.
The funding round was led by M3 Ventures and Sweat Equities, and the funding raised will be used to finance the brand’s expansion into the southwest, midwest and northeast of the US.
The brand estimates that its expansion plans in the northeastern US will see it grow its distribution network by 40 per cent, with over 1,500 retailers stocking its range in the near future.
Mooala produces a range of organic dairy-free drinks, including Original Almond milk, Vanilla Bean Almond milk, Original Banana milk and Chocolate Banana milk.
Mooala’s product range is sold throughout the US in retailers such as Costco, Whole Foods, Stop and Shop and more.
