This week, Canadian vegan brand Mother Raw closed a $6.1 million Series A funding round to support its expansion across North America. Founded in early 2019, the brand produces a variety of 20 refrigerated dressings (in flavors such as Caesar, ranch, and greek), marinades, dips, condiments, and hemp seed-based queso. From 2019 to 2020, the brand has seen a 247-percent increase in sales due to its retail expansion to more than 3,700 stores across North America, including 1,600 new listings secured during the ongoing COVID-19 pandemic at United States retailers such as Meijer, Pavilions, Sprouts, Target, and Whole Foods.
“The Mother Raw team remains steadfast in our focus to delight our consumers, retailers and suppliers as we advance our mission and business to make consciously crafted plant-based foods that deliver on taste,” Mother Raw CEO Kristi Knowles said. “Now with added partners on board, Mother Raw is excited about the future ahead with investment partners who wholeheartedly believe in our mission, are a strategic fit, and possess expertise and knowledge to complement our business. I’m confident our combined efforts and timely boost to the business will bring even greater success.”
Mother Raw’s latest funding round welcomed two new investors, Forage Capital Partners, and government-owned credit agency Export Development Canada (EDC).“Mother Raw’s impressive growth is attributed to its focus on innovation and quality products that meet the demand of a growing industry,” said Carl Burlock, Executive Vice President and Chief Business Officer at EDC. “We are pleased to support Mother Raw through EDC’s investment Matching Program which will enable the company to increase investment in business development and innovation efforts, helping it execute on its ambitious growth plans across North America.”