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 Sweat Equities. The company is developing an “all-natural” milk alternative that will be sold at Whole Foods stores across the US. Demand for dairy-free drinks in the US has grown 61% in the past five years, according to Mintel. Elmhurst Milked, which switched from producing traditional milk for 92 years into a new non-dairy operation, boasts a portfolio that includes "milked" almonds, oats, cashews, peanuts, hazelnuts, walnuts and brown rice. 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 Sweat Equities. The company is developing an “all-natural” milk alternative that will be sold at Whole Foods stores across the US. Demand for dairy-free drinks in the US has grown 61% in the past five years, according to Mintel. Mooala's products include a banana-based drink.