Impact Loop reports that Sproud, the Malmö-based pioneer of pea-powered plant milk, has raised SEK 20 million (€ 1.8 million) from existing investors. These include Findeln Holding, Dream Beverage Group, VGC Partners, and Lantmännen BioRefineries.
The funding brings Sproud’s total registered capital to over € 21 million.
Founded in 2018, Sproud has carved out a niche with its sustainable, pea-based milk alternative, which boasts a lower carbon footprint than traditional dairy or almond milk.
Sproud is doubling down on European expansion, capitalizing on rising demand for plant-based, clean-label products. CEO Sara Berger is bullish on the future of the category:
“‘Clean ingredients’ are gaining traction internationally. “
said Sara Berger to Impact Loop
Sproud’s pea-based formula offers a sustainable, allergen-friendly alternative to dairy and nut milks, aligning with consumer trends toward healthier, eco-conscious choices. The company’s focus on transparency and sustainability has resonated in a crowded market, where many competitors rely on less sustainable ingredients like almonds or oats. The company has an impact focus, and was recently was granted a B Corp Certification.
“We are delighted to be verified by B Lab for this certification. Achieving a score of 109.4 reinforces that we see the planet as our biggest stakeholder and our commitment to being a business that is a force for good.”
said Sara Berger
Swedish Tech News reports the latest round values the company at a pre-money valuation of € 16.5 million, a rebound from recent valuations, though still below its 2022 peak of € 22.5 million.
