Gum-industry Veterans Invest In Plastic-free Brand Milliways

Credit: Milliways/PRNewswire.

Plastic-free chewing gum institution Milliways has raised $3m from a group of veterans successful nan class arsenic it seeks to grow successful nan US.

In a statement, nan UK-based business said nan caller superior will beryllium utilized to “accelerate marketing, grow unit distribution and turn inventories”.

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Investors successful nan information included Mehmet Yüksek, erstwhile CEO of Perfetti Van Melle, and existing backer Leon Amram, who founded nan Turkish gum business Intergum, which was later sold to Cadbury proprietor Mondelez International.

They are joined by “other manufacture executives who collectively bring decades of acquisition building world chewing gum brands”, Milliways said.

Founded successful 2021, nan company’s gums are plant-based, biodegradable and sugar-free.

Tom Raviv, Milliways’ laminitis and CEO, said: “We are seeing nan clasp of precocious quality, plastic-free alternatives from retailers and shoppers, and we are excited to proceed increasing our beingness crossed nan US. This caller backing information allows america to make Milliways disposable to much consumers each day.”

The institution launched successful nan US conscionable complete a twelvemonth agone and has since expanded to much than 2,000 outlets nationwide, according to nan statement.

Stockists see Sprouts, Meijer, Hy-Vee, Raley’s and Fred Meyer. “Milliways has an breathtaking twelvemonth up pinch caller retailers getting down our mission,” Raviv said.

Since launch, Milliways has raised $10m successful full and is now disposable successful much than 10,000 stores worldwide, according to nan company.

In 2023, nan group completed a £3m (then $3.9m) backing round, which included private-equity patient KLT and MR Amram.

The start-up besides raised £1m successful 2021.