Canadian plant-based condiments brand, Mother Raw, has raised $6.1 million in a Series A financing round.
The round of funding was led by Forage Capital Partners, alongside Export Development Canada and with support from Whitecap Venture Partners.
The company, which makes plant-based dressings, dips, condiments and quesos, said the new capital will help to accelerate its growth across North America, encouraging more citizens to join the growing plant-based food revolution.
The team plans to expand its distribution footprint, increase R&D for new product innovation, and amplify marketing and sales initiatives.
Following a significant rebranding and reformulation effort led by CEO Kristi Knowles, the company’s products now feature in approximately 3,700 stores across North America.
Sales for Mother Raw have grown 247% from 2019-2020 and – despite challenges faced due to the Covid-19 pandemic – they have secured over 1,600 new retailers in the US including Meijer, Pavilions, Sprouts, Target, Walmart Canada, Whole Foods, and more.
“The Mother Raw team remains steadfast in our focus to delight our consumers, retailers and suppliers as we advance our mission and business to make consciously crafted plant-based foods that deliver on taste,” said Knowles.
“Now with added partners on board, Mother Raw is excited about the future ahead with investment partners who wholeheartedly believe in our mission, are a strategic fit and possess expertise and knowledge to complement our business. I’m confident our combined efforts and timely boost to the business will bring even greater success.”
© FoodBev Media Ltd 2022
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