Dairy-free brand The Coconut Collab has secured a further £1.5m investment to accelerate growth after closing a Series B funding round.
The plant-based brand‘s investment comes from existing shareholders, including Ground Force Capital and will be used to support The Coconut Collab’s transition from its initial ’start-up’ phase to a scaling phase.
Developed by pudding brand Gü founder James Averdieck, the new investment follows The Coconut Collab winning an initial £5.5m ($7m) in 2020 from a Series A investment round.
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Averdieck said: “The Coconut Collab has demonstrated rapid growth in the ten years of its inception which has been supported by a rising number of consumers seeking out delicious, quality and, increasingly sustainable dairy-free alternatives.
“Our range delivers across all these requirements, with this investment allowing us to continue expanding the business, reaching more customers and realising our ambition to bring the category more mainstream.
“We take a unique approach within the category: our Coconut Yog is luxuriously thick and creamy, with a sweetness originating solely from the natural sugars found within the coconut and fruits we use.”
