Mother Raw, a vegan dressings brand based in Toronto, has raised $6.1M to allow it to expand. The round was led by Forage Capital Partners and Export Development Canada, both new investors.
Mother Raw was launched last year and produces 20 varieties of dressings, including ranch, Caesar, vegan queso, and Greek. Since last year, its sales have surged by 247 percent as the brand expanded to major chains such as Whole Foods, Target, and Sprouts.
All the company’s dressings are “cold-blended,” meaning they aren’t heated or pasteurised. They are also free of artificial ingredients. The company says it will now be switching its focus to dips and condiments, with the help of the new funding.
Mother Raw manufactures all its own products, and some of the funding will go towards increasing capacity. But CEO Kristi Knowles told Just Food that most of the capital will be dedicated to innovation, sales programming, and marketing.
She added that the company expects its growth next year to surpass this year’s success.
A study last year found that the plant-based condiments category is now worth $70 million and that it grew by 29 percent in the two years leading up to 2019.
“We’re delighted to invest in Mother Raw during a critical time in the company’s development and are looking forward to being a part of their continued success,” said Jim Taylor, partner at Forage Capital Partners.
