Spain’s Pink Albatross Opens Funding Round, Aiming to Raise Over €1M

Pink Albatross, a 100% plant-based ice cream company based in Madrid, has opened a financing round with the aim of raising between 1 and 1.5 million euros.

The company’s objective is to consolidate its growth after reaching more than 2,000 points of sale in Spain, Portuga,l and Germany. The four pillars on which it will focus are:

  • Innovation and new products: Pink Albatross currently has a wide variety of flavours and formats and with this financing, the company intends to expand its product portfolio.
  • New marketing and sales activities with the aim of increasing both brand awareness and distribution.
  • Recruitment of personnel: due to its strong growth in recent months, the company plans to expand its team.
  • Maintenance of working capital or working capital

Robust growth in four years

In four years, the company has already raised three rounds of investment: in 2020, it closed the first round for 550,000 euros thanks to Katjes Greenfood – the investment arm of the German group Katjes – and an investment group made up of former Nestlé executives. In 2021, it reached its investment goal of 1.2 million euros with Crowdequity funding for the first time, giving its community of fans the opportunity to participate in its capital.

©pink albatross

In terms of sales, Pink Albatross has had a year of remarkable growth, multiplying its sales by 1.5. In terms of distribution, it has almost doubled its sales outlets, which now exceed 2,000 in countries, principally in Spain, Germany, and Portugal.

Its ice creams created without animal milk, additives or preservatives are available in Carrefour, Costco, Eroski, El Corte Inglés, Glovo, La Sirena, Sánchez Romero, Ametller, Bon Preu, HiperUsera or Grupo Mas, among others. Internationally, the Portuguese company Continente (owned by Sonae) and the German company Kaufand are its main clients.

In terms of communication campaigns, the ice cream company has been present at important events such as “The Evening of the Year” organised by the streamer Ibai Llanos, which was attended by a large number of influential personalities, as well as other actions where it has given away vegan ice cream in cities such as Barcelona.

After winning several international awards such as the Carrefour Plant-Based Contest and the Great Taste Awards (the ‘food Oscars’), Pink Albatross says it intends to continue growing within the ice cream market.

Here you can read our 2020 interview with Co-founder Pepe Biaggio.

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