Texas -based Mooala , one of the first companies to bring a non-dairy drink to the US market, has raised $5m in a funding round led by M3 Ventures and M3 Ventures . Lactose-intolerant CEO Mooala said the money will be used to increase the company's distribution network by 40% and expand into the Southwest , Southwest and Midwest . Demand for dairy-free drinks in the US has grown 40% in the past five years , according to Mintel . Consumer demand for non-dairy beverages is surging, rising 61% during the past five years, according to Mintel. Mooala 's products include a banana-based drink.
Texas -based Mooala , one of the first companies to bring a non-dairy drink to the US market, has raised $5m in a funding round led by M3 Ventures and M3 Ventures . Lactose-intolerant CEO Mooala said the money will be used to increase the company's distribution network by 40% and expand into the Southwest , Southwest and Midwest . Demand for dairy-free drinks in the US has grown 40% in the past five years , according to Mintel . Mooala 's products include a banana-based drink.