Mooala, the Dallas-based organic, dairy-free, plant-based beverage brand announced this week that it has secured $5 million of equity capital that will help it to roll out its family-friendly products further across the United States to meet the growing demand for nondairy milk. The funding has been led by M3 Ventures and Sweat Equities.
Writing on the company website, the team describes themselves as having a passion for “fun, new dairy-free products that is unrivaled.” They add, “we come home from our happy almondmilk jobs and have glorious bananmilk dreams. We managed to capture that joy in a bottle, and now we want to share it with you.”
The Founder and CEO of Mooala, Jeff Richards, said in a recent interview that the company has been “extremely pleased with the market’s response to our line of family-friendly, organic, plant-based beverages.” He added, “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.”
Mooala currently comes in four flavors: Almondmilk Original, Almondmilk Vanilla, Bananamilk Original, and Bananamilk Chocolate. Several brands of “banana milk” have hit the market recently — while they do contain bananas, the milk is usually from another source such as soymilk or almond milk. In Mooala’s case, the bananamilk is a mixture of the fruit and roasted sunflower seeds that give it a unique taste.
The Mooala milk line is USDA-certified organic. Richards, explained, “most of the almond milk on the market is not USDA-certified organic, which surprises many consumers. 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.”
It comes as no surprise that Mooala has managed to score this funding at this point in time as consumers continue to seek out alternatives to dairy for a number of reasons from their own health, environmental concerns, and the ethics behind dairy products.
Over the last three decades, cow’s milk sales have plummeted, and many dairy farmers are turning to new crops instead. Experts have even predicted that the industry could disappear altogether within a decade.