Swedish pea-based milk alternative brand Sproud has secured $6.5 million in new funding from London-based growth capital investor VGC Partners, the company announced today.

Cannabis beverages are no doubt among the most buzzed about emerging categories of recent years. But although THC-infused drinks had a market value of $313 million in 2020, they accounted for only a drop in the bucket of the overall $19 billion cannabis market. Beverages still have a long way to go and face numerous logistical challenges to overcome as brands seek to breakout within a highly regulated environment.

Throughout the past decade, crowdfunding has proven to be a vital source of startup capital for young entrepreneurs looking to get off the ground. But in a crowded marketplace where companies are constantly competing for venture financing and require millions of dollars to grow their companies, platforms like Kickstarter can’t cut it for established brands.

Citing the growing demand for immunity-boosting beverages, Remedy Organics has launched a new line of wellness shots, available online ahead of a planned retail rollout later this year. Developed by co-founder Cindy Kasindorf, the plant-based Immunity+ line is available in four flavors.

As one of the RTD cold brew and oat milk pioneers, the success of RISE Brewing Co., which launched its three-SKU line of oat milk lattes in 7 oz. cans in 2018, has helped pave the way for others to enter the category. The brand is seeking to leverage its first-mover advantage in oat milk to broaden its presence, starting with this month’s launch of a new Vanilla flavor.

Over a decade after its sale, Zico founder Mark Rampolla finds himself writing the next chapter in the coconut water brand's history, having reacquired the brand from Coca-Cola via investment fund PowerPlant Ventures, of which he is a partner and co-founder.