Reportedly, dairy-free beverages manufacturer Mooala has finalized an $8.3 Million Series A funding round as the company intends to speed up the product development. The round was carried by Sweat Equities with input from many investment companies and family offices, counting series seed lead financier M3 Ventures. Both M3 Ventures and Sweat Equities participated in Mooala’s $5 Million funding round previously in the last year. The latest funding will help the company for emerging into new markets and expanding its internal team. Charlie Sweat—Managing Partner of Sweat Equities—said, “We were captivated to Mooala due to its success that rapidly disrupted the mainstream market with world-class organic and plant-based dairy substitutes. We look ahead to leverage our operating understanding as Mooala enters into its next stage of growth.”
Dallas-based Mooala is best recognized for its plant-based “Bananamilk” and at present has products on sale in over 2,500 stores in the U.S. and will expand to 3,500 stores by January 2020. In this year, the company anticipated doubling its net sales than 2018. Jeff Richards—Founder and CEO of Mooala—said that we look forward to collaborating with Sweat Equities. Charlie has been associated with the healthy food and beverage industry for over 20 Years and his company brings great strategic and operational expertise to our plant-based domain.
On a similar note, previously this year, Mooala released a line of organic plant-based creamers. People conscious about their dairy and sugar intake or those looking to munch cleanly have a new motivation to reach their goal. Mooala—which is a top manufacturer of plant-based and organic drinks at a family-friendly price—has announced the launch of an appetizing line of organic and plant-based creamers produced with a base of almonds and coconut cream with no added sugars.