Vancouver based oat milk company, SMPL Oats, has successfully raised over $1 million in a financing round.
VANCOUVER, BC, Sept. 21, 2021 /CNW/ - SMPL Oats, Vancouver's very own oat milk company, is producing delicious and nutritious milk alternative beverages for Canadians. Having yet to officially launch their products, they have created a regular oat milk option, chocolate milk, and they have a frothy barista formula planned for a later release.
Led by Conor Power, Vegano Foods founder, and consumer packaged goods specialist, SMPL Oats has raised $1.3 million dollars in its initial financing round. In addition to his multiple successful consumer packaged goods startups, Power is a noteworthy venture capitalist who has raised over $35 million for various tech and CPG companies, with several lucrative exits publicly and privately.
This strong financing round for SMPL Oats is the perfect catapult for this blooming milk-alternative start-up.
"We plan on doing an IPO in the fall and bring the company public. We also have expansion in our horizon as we plan to launch the SMPL Oats brand in Europe," says Power.
There are many proven health benefits in consuming oat milk and Power saw an opportunity in the market. "The launch of our products coupled with the financial support received in our initial financing round will propel us forward, help us scale, enable us to grow internationally, and speedily execute our vision for SMPL Oats."
About: SMPL Oats is Vancouver's own oat milk company. Developed in Canada, SMPL Oats is set to expand across the country and internationally by 2023. Founded in 2021, SMPL Oats raised $1.3 M during its initial financing round.
SOURCE SMPL Oats
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