Swedish Plant-Based Milk Startup Sproud Raises $6.5 Million from VGC Partners
Sproud, the Swedish maker of a range of plant-based milks announced it has raised $6.5 million from growth capital investor, VGC Partners. The investment will be used to grow Sproud’s team, accelerate the brand’s distribution and brand building activities in the company’s core markets - including the US, Canada, and the UK - and for further development of its plant-based and dairy-free product range.
Sproud launched in Sweden in 2018 and has expanded to 15 markets in just two years, including to the US, where it launched in 2020 and is available via supermarkets and online retailers such as Amazon, Sprouts Farmers Market, and Vitacost, in addition to various independent shops, cafés, and restaurants.