Oats Overnight has raised $2 million in seed funding to expand the distribution of its oat formula and support its research and development (R&D) efforts.
Headquartered in Arizona, US, Oats Overnight claims to offer the only drinkable oatmeal on the market, providing a ‘nutritious and convenient’ on-the-go breakfast.
The brand’s high-protein oat formula can be mixed with milk and refrigerated overnight for a breakfast that offers complex carbohydrates, 20g+ of protein and functional whole foods.
The company’s seed funding was led by Schnitzel Capital, with participation from Danilo Stern-Sapad, chief technology officer of FabFitFun, Rebag CFO Kevin Weinnman, Spacestation Investments, Costella Kirsch and a member of the executive team at Allbirds.
“This round will allow us to continue expanding our distribution channels, make key hires to our executive team and further R&D on future product offerings,” said Brian Tate, CEO and founder of Oats Overnight.
“Oats Overnight is incredibly grateful to Schnitzel Capital for leading this investment round to help further our goal of reinventing the way people consume oats.”
Schnitzel Capital founding partner, Jack Dreifuss, added: “At Schnitzel Capital, our first bet is on people; and who better than Brian, having spent over a decade in risk management and analytics?
“When he introduced us to Oats Overnight, and I saw first-hand the product quality, passionate consumer base and potential for growth within the $2.4 billion global oatmeal market, it was a no-brainer to invest.”
© FoodBev Media Ltd 2022
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