Dairy-free innovator Miyoko’s Creamery has raised an additional $7M in equity funding, reports Biz Journals. The announcement is based on May 24 company filings with the Securities and Exchange Commission (SEC).
A series of successes
The fund amount of $6,999,990 was raised from undisclosed investors and would bring Miyoko’s total fundraising to date to $78.6M. According to Intelligence 360, founder and CEO Miyoko Schinner was significantly involved in the investment, and the money will help the plant-based company as it continues to “aggressively” expand and increase product development.
The investment is the company’s first since last year’s massive $52M Series C round, which the brand used toward launching its groundbreaking liquid mozzarella and accelerating R&D. In 2021, Miyoko also won a landmark legal victory granting her the right to use the term “butter” and “dairy” on product labels and packaging.
Founded in 2014, Miyoko’s Creamery is a leading producer of innovative dairy-free cheeses and butter. Using traditional aging and culturing techniques, the brand has pioneered artisanal dairy-free products that are now sold in over 30,000 retail locations across the US and Canada, as well as South Africa, Singapore and Hong Kong.
In an interview with vegconomist last year, Schinner revealed the brand is currently working on first-to-market vegan cottage cheese and looking to enter the European market.
“I am hoping we will be able to expand our marketing initiatives to create strong awareness among the public not only about our brand but our mission,” Schinner said. “In addition, we would like to build our innovation team to continue developing game-changing products that can help change the dairy landscape from animals to plants.”