Oddlygood Global, a by-product of Valio, one in all Finland’s premiere meals firms, closes its first spherical of funding with an funding of $28m from the personal fairness division of Helsinki-based Mandatum Asset Administration.
Oddlygood develops and markets plant-based merchandise, together with oat drinks for espresso, oat yogurts, cheeses and dairy alternate options utilized in cooking and baking. Recognized for its Finlandia model of cheeses and butter within the U.S., Valio spun off the plant-based division’s enterprise earlier this 12 months and can proceed as Oddlygood’s majority shareholder.
Mandatum’s funding will speed up Oddlygood’s aim of changing into a world chief in plant-based merchandise.
Led by CEO Niko Vuorenmaa, Oddlygood International sells its merchandise in Finland and Sweden, in addition to within the U.Ok., Russia and the Baltic international locations. U.S. gross sales are slated to start in early 2022 as manufacturing begins of Oddlygood Oat Yogurt in Northern California.
The corporate’s U.S. headquarters are in Parsippany, N.J. Earlier this 12 months, Oddlygood began advertising its cheeses to the U.S. foodservice sector with a concentrate on pizza operators. The corporate plans to develop gross sales and distribution in current markets and enter new ones.