???????? VEGANZ GROUP SECURES €10M TO EXPAND PRODUCTION OF ITS 2D-PRINTED OAT MILK, MILILK
Veganz Group AG, a plant-based pioneer from Germany, has brought in €10M in equity funding to expand production capacities for its plant-based milk and meat products.
The investment round, which brings its total raised to over $24M, came courtesy of a Securities Purchase Agreement with New York-based investor Global Corporate Finance LLC (GCF).
The contract enables a flexible and staggered use of the capital over a 30-month period, against the issuance of new shares at a valuation determined through the share price at the time of retrieval.
Veganz will utilise the capital to optimise and automate its production processes, increasing the manufacturing capacity of its Mililk sheets by fivefold. While the current version of the non-dairy milk is based on oats, the company indicated that it’s working on almond milk too. Additionally, Veganz will look to expand Peas on Earth, a new pea-protein-based meat analogue.
The latest equity investment comes two months after Veganz secured funding from the state of Brandenburg to expand production. And a month later, it announced plans to use around 1,000 sq m of its site in Ludwigsfeld to ramp up manufacturing of its Mililk products, enabling it to make 50,000 litres every day.
Mililk is among a burgeoning category of plant-based milks breaking away from the conventional liquid format to offer a product more sustainable, convenient, clean-label, or a combination of these. MIGHTY, OVERHERD and Blue Farm are all making powdered oat milks, JOI and Nooj - milk it skinny or full fat, your go-to dairy-free hero produce nut pastes to be blended with water, while Goodmylk Co. makes frozen concentrates.
More information in the full article: https://lnkd.in/erS4H4t9
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4 个月Okay... where can I buy a case of this? This looks amazing! Kudos for going the no seed oil route. More people need to get on that trend.