Mooala, a?leading?maker of?premium,?organic,?dairy-free beverages and creamers, today announced it has completed a $8.3 million Series A equity financing. Sweat Equities, an investment firm specializing in the food, beverage and consumer goods sector, led the financing round with participation from several investment firms and family offices, including Series Seed lead investor M3 Ventures. The investment brings Mooala's total funding since launch to over $13 million and will support the company's emergence into new markets, help accelerate product development and bolster the internal team.
"We were attracted to Mooala given its success rapidly disrupting the mainstream marketplace with best-in-class, organic, plant-based dairy alternatives," said Charlie Sweat, managing partner of Sweat Equities, LLC. "We look forward to leveraging our operating experience as Mooala enters its next phase of growth."
The Series A funding builds on an exceptional year for Mooala, which expects to double net sales versus 2018. Best known for its plant-based Bananamilk, Mooala is now sold in over 2,500 stores nationwide, including Whole Foods, Safeway, Kroger, Wegmans and Costco, and will increase its footprint to 3,500 stores in January 2020. Mooala also launched the industry's first organic almond and coconut-based creamers earlier this year, capitalizing on one of the fastest-growing plant-based categories in grocery. To date, the company has been funded by M3 Ventures as well as friends and family.
"We are thrilled to expand our relationship with Sweat Equities," said Jeff Richards, CEO and founder of Mooala. "Charlie has been involved in the healthy food and beverage space for more than 20 years and his firm brings tremendous operational and strategic expertise to our plant-based platform."
Mooala offers families with dietary restrictions, allergies or those striving to make simple, better-for-you lifestyle swaps the ability to enjoy a variety of tasty plant-based options guilt-free. The company is best known for its breakthrough Original Bananamilk variety, the industry's first organic, nut-free, dairy-free, and soy-free Bananamilk, and recently launched an all-organic line of dairy-free Creamers made with a base of coconut cream and almonds. Its beverages are available in over 2,500 retailers nationwide, including Whole Foods Market, Wegmans, ShopRite, Albertsons-Safeway, Giant, Kroger and more. To learn more about Mooala, please visit www.mooala.com, become a fan on Facebook or follow us on Instagram, Pinterest, and Twitter.
About Mooala
Based in Dallas, Tex., Mooala is a leading maker of premium, organic, dairy-free beverages made from real ingredients. Since its founding in 2016, the company has become widely esteemed for its full suite of USDA-certified organic and family-friendly, dairy-free beverages, and best known for its breakthrough Original Bananamilk variety, the industry's first organic, nut-free, dairy-free, and soy-free Bananamilk. For more information, visit www.mooala.com.
