Indian plant-based dairy brand Alt Co. has closed a $1 million funding round led by major investors from Singapore, the Middle East, and India. With this injection of funds, the Bengaluru-based alt dairy brand will expand its retail footprint and product portfolio, as well as continue to advocate “a vegan way of life” for India.
“We at Alt Co. have been going out of our way to ensure that Indians have meal options that are animal-friendly and dairy-free”
Currently producing oat-based milk products in India, Alt Co. was founded last year, and the brand says it has been tapping into the topical concerns people have over the lack of sustainability in their diets. Alt Co. also states its expansion plans include the launch of new proprietary plant-based alt dairy categories, including ice creams, yogurts, hot chocolate, and chocolate bars, as well as plant-based eggs and plant-based nutrition.
In the lead-up to the funding round, Alt Co. had expanded its presence into new states, increased the number of retail touchpoints, and seen a rise in online sales. Now, the brand plans to onboard industry veterans, aiming to become the foremost plant-based company in the Asia Pacific/Middle East/Africa (APMEA) region. The Indian oat milk market has recently been shown to present great growth opportunities, while new Indian plant-based brands continue to find investment.
“More and more of us are realizing every day the importance of sticking to a healthy diet, a diet that takes nature as its inspiration,” Basan Patil, Co-founder of Alt Co. told Indian Retailer. “We at Alt Co. have been going out of our way to ensure that Indians have meal options that are animal-friendly and dairy-free, and have been incredibly heartened by the response to our products. This round of funding is another step towards the brand living up to our Green Aisle Philosophy, and gives people of all ages alternatives that are healthy, sustainable, and, above all, delicious.”
