Oat milk maker Oatly has secured $200 million in funding from a consortium led by Blackstone, with participation from celebrities and big names including Oprah Winfrey, Natalie Portman, Howard Schultz and Jay-Z‘s entertainment agency Roc Nation.
The deal reportedly values the Swedish company at around $2 billion. Oatly will use the build new production plants and create new jobs in Europe, the US and Asia.
The funding comes not long after another alternative milk company, Perfect Day, raised major venture capital of its own. The California-based startup offers animal-free dairy proteins; it added a $160 million extension onto its Series C earlier this month, taking the round’s total to $300 million.
Oatly’s products are available in 20 countries, and the company generated a reported $200 million in 2019 revenue. Verlinvest and Strand Equity are among its existing backers.
VCs have more than doubled the amount of money they’re plowing into plant-based food startups over the past five years, hitting $659 million in 2019. Corporations like Nestle and Danone are also launching alternative dairy products of their own and looking to acquire or invest in startups.
Source: Pitchbook
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