Two months ago Vegano adventured beyond meal kits with the launch of online vegan marketplace with the product selection of a boutique vegan grocer and a seamless e-commerce shopping experience.
Power is at it again but this time with a barista staple, oat milk.
SMPL Oats is Vancouver’s very own oat milk company and they’ve raised $1.3 million to produce nutritious milk alternative beverages for Canadians.
With the increased popularity of vegan diets among consumers, the demand for dairy alternative beverages has increased. Consumers are shifting their preference to plant-based milk, which is growing in demand because of health, environmental, and ethical reasons.
The oat milk market is projected to reach USD $2.2 billion by 2026.
On the verge of launching across Canada, SMPL Oats has created a regular oat milk option, chocolate milk, and planned frothy barista formula.
“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,” Power commented this week.
“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.”