Vegetable protein beverage model oatoat has accomplished a Pre-A spherical of financing value tens of thousands and thousands of yuan, solely invested by IMO Ventures, in line with 36Kr.
Established solely 5 months in the past, the corporate has already accomplished two rounds of financing, together with an angel spherical led by China Progress Capital and adopted by WE Capital with an undisclosed quantity.
The 2 financing rounds reached an estimated quantity of tens of thousands and thousands of yuan. Waverider Capital and Palm Capital served as monetary advisors for the 2 rounds of financing, respectively.
In line with Sue, the founding father of oatoat, the model has no meals components in its drinks, that are extracted from oats, aiming for a purer and extra pure style.
Because of the more and more standard pursuit of a more healthy weight loss plan in addition to the rising consciousness to devour cruelty-free merchandise, the Chinese language beverage market has seen strong development in oat milk lately. Swedish oat drink model Oatly has taken over the Chinese language market by storm, particularly favored by Gen-Z shoppers. From January to April 2020, Oatly’s gross sales on Tmall and Taobao elevated by 115.4% and 2305.7% year-on-year. The market darling even reached a cooperation settlement with Starbucks this April and developed a well-liked product – oatmeal latte espresso.
The market dimension of the oat milk trade is predicted to achieve 260 million yuan in 2020, as predicted by Tmall. The e-commerce large additionally revealed that in the course of the decade between 2007 to 2016, the compound development price of China’s plant protein drinks was 24.5%, rating first amongst all sorts of drinks.