Sproud, a Malmö, Sweden-based maker of a range of plant-based milks, raised £4.8M in funding.
VGC Partners made the growth investment.
The company intends to use the funds to:
- grow the team,
- accelerate distribution and brand building activities in its core markets – including the UK, US and Canada , and
- further develop its plant-based and 100% vegan product offering.
Launched in Sweden in 2018, Sproud is a maker of a range of plant-based milks
through a proprietary blend of protein from yellow split peas, GMO-free oils and syrups, fortified with essential vitamins. All of its products contain low essential amino acids and are free from lactose, gluten, and soy. The company, which employs a team of six. supplies its plant-based milk to some of the largest hospitality chains of the region, including Espresso House and Clarion Hotel. Sproud has expanded to 15 markets in two years and its products are available across the UK via supermarkets and online retailers such as Waitrose, Ocado, and Amazon, in addition to various independent shops, cafés, and restaurants.
Beyond VGC Partners, investors include Findeln Holding, and Swedish investment group Dream Beverage.