AUSTIN, TEXAS — Dairy-free frozen dessert brand NadaMoo! has raised nearly $10 million in Series B financing led by existing investors District Ventures Capital and InvestEco and new partner Killam Investments.
Founded in 2005, NadaMoo! offers an assortment of frozen desserts formulated with organic coconut milk. Pints are available nationwide at retailers including Whole Foods Market, Target, Walmart and Publix. The company also serves more than 20 flavors at a flagship scoop shop in Austin. NadaMoo! frozen desserts contain no artificial preservatives, colors or flavors and are plant-based and gluten-free. Additionally, the company uses sustainably sourced sugarcane- and paper-based packaging.
“We love NadaMoo! and their vision for sustainable plant-based food and see this as a way to gain entry into and support the plant-based movement; having tried all the options out there, NadaMoo! is the most delicious ‘better-for-you’ pint on the market,” said Cliffe Killam, president of Killam Investments.
NadaMoo! will use the funding to support brand building, distribution, marketing and product development.“This round of funding will help us continue to drive the NadaMoo! brand for the benefit of our customers and the planet,” said Daniel Nicholson, chief executive officer of NadaMoo! “It’s encouraging to see Texas-based family offices like Killam Investments diversifying into sustainable industries like plant-based food to ensure our acceleration toward a more sustainable planet. Beyond being the right thing to do, this raise underscores the fact that investing in businesses that put people, planet, and purpose before profit has the potential for a strong return. Consumers’ purchase decisions are increasingly more discerning on behalf of the planet, and the markets are following.”