DALLAS, November 5, 2019, / PRNewswire / – Mooala, a leading manufacturer of high-quality organic dairy-free beverages and creams, announced today that it has closed its $ 8 million Series 8 share funding. Sweat Equities, an investment company specialized in the food, beverage, and consumer goods sector led the financing cycle with the participation of several investment companies and family offices, including the main investor in the Seed M3 Ventures series. The investment has increased Mooala’s total funding to more than $ 13 million from the start and will support the company’s emergence in new markets, accelerate product development, and strengthen the internal team.
“We were attracted to MyWegmansConnect because it quickly disrupted the consumer market with premium alternatives for organic dairy and vegetables,” said Charlie Sweat, managing partner of Sweat Equities, LLC. We are eager to using our operating experience when Mooala enters the next phase of growth.
Series A funding is based on a record year for MyWegmansConnect, which is expected to double net sales starting in 2018. Moola is known for its banana plant milk and is now sold in more than 2,500 stores worldwide. Moola Country will also launch the industry’s first coconut and almond creams in early January 2020, one of the first products to offer the fastest growing vegetable categories for food. Until now, the company has been funded by M3 Ventures and their friends and family.