Plant milk brand MALK Organics reveals it has raised $9M in Series B funding in a round led by investors Benvolio Group and Rotor Capital. The raise brings the company’s total funding to date to $17M.
“We are extremely bullish about MALK’s growth prospects”
Aiming to become the “cleanest premium organic” dairy-free milk on the market, MALK plans to hire additional executives and increase its marketing spend as it prepares for a new chocolate almond milk and upcoming Publix launch, reports Forbes.
“We are extremely bullish about MALK’s growth prospects, because not only is the product highly differentiated in a growing on-trend category, but the seasoned team in place has delivered exceptional results in 2022 and has a strong plan to accelerate future revenue and achieve profitability,” said Sam Frankfort, Managing Partner of Benvolio Group.
Rich Keller, Managing Partner of Rotor Capital, commented, “Over the past 12 months, the MALK team has built a strong foundation by pioneering the premium plant-based milk segment, cultivating existing and new retail customer relationships, and attracting a dedicated, passionate team. We are excited to continue to support their journey to helping MALK achieve its greatest potential.”
Founded in 2015, MALK produces a clean-label line of flavored and unsweetened oat and almond milk made without gums, oils, or fillers. Since 2018, the Texas-based brand has expanded into US retailers nationwide, including Kroger, HEB, Sprouts and Whole Foods.
MALK’s current product line includes Unsweetened Almond, Vanilla Almond, Original Oat and Vanilla Oat. In August, the company added Chocolate Oat to its selection. According to MALK CEO Jason Bronstad, the company’s products have been proven to cater to both natural and conventional shoppers.
“We’re already in multiple Kroger divisions, and we’re going into all Publix stores around the first quarter [of 2023], so consumers in the Southeast can have a new opportunity to add MALK to their diets,” Bronstad said.
He added, “Traditional dairy is still significantly [larger] in size compared to plant-based, but we’re excited as consumers continued to explore and give trial to the segment. We anticipate the entire category will continue to grow with a significant upward trajectory, and we believe MALK will be leading that trajectory as we move forward.”
Bronstad also believes its lead investors’ experience in scaling healthy foods and activating retail concepts will strongly support MALK’s growth.
“The experiences they have really allow us to think differently than traditional CPG, and they can help make sure MALK is available to consumers,” he said.