Milliways Chewing Gum Secures £3m for Expansion
Milliways, a pioneering plastic-free chewing gum brand, has exciting plans for expansion with a new £3 million fundraising round.
The funds will bolster distribution across the UK, support impactful marketing campaigns, and facilitate international growth.
Launched in 2021 by Tom Raviv in London, UK, Milliways emerged as a game-changer by offering a plant-powered alternative to traditional gum that typically contains harmful single-use plastics.
The company's commitment to sustainability and innovation has attracted notable investors, including private equity firm KLT, Intergum owner Leon Amram, and David Morris, partner at Blandford Capital and former board member of Sodastream.
In just over two years since its online debut, Milliways has experienced remarkable progress, reaching approximately 6,000 UK stores. This growth trajectory highlights the brand's appeal and consumer demand for eco-friendly products.
Brad Kark, CEO of KLT, expressed excitement about partnering with Milliways and praised the brand's dedication to creating a top-notch product, a talented team, and a distinctive identity. KLT is eager to support Milliways as it aims to provide consumers with a sustainable and enjoyable chewing gum experience while positively impacting the environment.
Founder Tom Raviv expressed his enthusiasm about the opportunities ahead for the brand. He views this as a monumental moment for the industry, with conscious brands like Milliways gaining prominence. The successful funding round, featuring high-profile investors, is a testament to the brand's bright future and aspirations to become a global household name, all for the right reasons.
Despite facing challenges akin to a modern-day David and Goliath tale, Milliways has triumphed. The brand launched amidst the pandemic lockdowns when social and impulsive products faced hurdles. Additionally, breaking into the market dominated by a few megabrands required persistence and effort. Nevertheless, Milliways' dedication has paid off, and they are only scratching the surface of their potential.
This latest fundraising round follows the initial £1 million round completed in September 2021, propelling Milliways even further on its journey to revolutionise the chewing gum industry with its sustainable and planet-friendly approach.
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Source: Foodbev
