DALLAS, Feb. 6, 2018 (PRNewswire) — Dairy-free beverage producer Mooala announced Tuesday it 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.
"We've been extremely pleased with the market's response to our line of family-friendly, organic, plant-based beverages," said Mooala Founder and CEO Jeff Richards. "This investment helps us ramp up production and expand our distribution network, making Mooala widely available to fans that have been requesting us for a long time."
Led by M3 Ventures and Sweat Equities, proceeds from the latest round of financing will be used to facilitate the rapid expansion of Mooala throughout the Southwest, Midwest and Northeast U.S.
Mooala has taken the plant-based beverage industry by storm, earning kudos from Food & Wine as well as pop culture sources such as Popsugar and The Motley Fool. Fans love the entire suite of products, from Mooala Original Almondmilk to the industry-groundbreaking Mooala Original Bananamilk.
"Our hypoallergenic Bananamilk is a favorite not just in the natural channel, but also our best seller in conventional grocery chains," Richards said.
Launched in late 2016, Mooala is currently sold in many retail locations including Whole Foods, Costco, Wegmans, Stop & Shop and Albertsons Safeway. Expansion plans along the Northeast coast represent approximately 40 percent growth of the company's current distribution network, taking Mooala to 1,500-plus retailers.
"Most of the almondmilk on the market is not USDA-certified organic, which surprises many consumers," Richards said. "Mooala gives our fans a premium, organic experience for a great price — it's something the marketplace has been missing. And the resounding response to our products proves it."
Mooala's approachable, family-friendly packaging features a cute koala bear that appeals to kids and families, but we all know true beauty is on the inside. Mooala delivers on that promise with real, organic ingredients and innovative flavors that turn skeptics into fans.
Mooala was inspired by Richards' own lactose intolerance and his inability to find a non-dairy alternative he enjoyed. He embarked on a mission to craft organic, plant-based beverages with real ingredients and an emphasis on fun, family-oriented branding. Today, Mooala offers a suite of all-organic beverages: Original Almondmilk, Vanilla Bean Almondmilk, Original Bananamilk and Chocolate Bananamilk.
About Mooala
Mooala's mission is simple: to make outstanding dairy-free beverages for you and to benefit the greater good. More information is at www.mooala.com.