Plant-based protein beverages manufacturer OWYN (Only What You Need) has announced a growth investment round led by PowerPlant Ventures.
The investment provides the US company with additional capital to accelerate its growth as it prepares to expand further into the conventional grocery channel.
PowerPlant joins existing investors Clearlake Capital Group and Halen Brands. Clearlake acquired OWYN two years ago in partnership with Halen Brands, a better-for-you food and beverage brand accelerator and investor.
OWYN’s flagship plant-based protein beverages are free from the top eight allergens and feature a blend of flax, pea protein, and pumpkin seed as a protein source. OWYN drinks are shelf-stable and have roughly 20g of protein, 4g of sugar and under 180 calories per serving.
The company currently offers its protein drinks in six flavours: dark chocolate, cold brew coffee, smooth vanilla, cookie n’ cream, turmeric golden mylk and strawberry banana, and recently expanded its line to include meal replacement shakes in chocolate and chai flavours.
“We are really proud of what OWYN has accomplished to date. Bringing on PowerPlant Ventures, with its deep experience in plant-centric food and beverage, complements our existing group of high-profile investors and partners and is an exciting endorsement of our brand, products and growth trajectory,” said Mark Olivieri, president of OWYN.
“Collectively, we remain committed to providing consumers with great-tasting protein drinks that provide the nutrition and sustainability benefits of being 100% plant-based. This investment comes at the right time as we further expand our go-to-market resources to capitalise on our rapid growth trajectory.”
Mark Rampolla, co-founder and partner at PowerPlant Ventures, added: “OWYN brought much-needed innovation to the protein beverage category, and its products clearly hit the spot for consumers looking for plant-based options with great flavours and clean ingredients.
“We are thrilled to partner with Mark and team to leverage their great work to date, accelerate growth and help OWYN become one of the next great plant-based brands.”
© FoodBev Media Ltd 2019