USA – OWYN (Only What You Need), a plant-based protein beverage and functional nutrition brand has secured a growth investment led by PowerPlant Ventures to accelerate growth of the brand in the US.
PowerPlant, which has also invested in Beyond Meat, Square Roots Beanfields and Farmer’s Fridge among other companies, joined existing investors Clearlake Capital Group and Halen Brands.
“Bringing on PowerPlant Ventures, with its deep experience in plant-centric food and beverage, complements our existing group of high-profile investors and partners and is an exciting endorsement of our brand, products, and growth trajectory,” said Mark Olivieri, President of OWYN.
“Collectively, we remain committed to providing consumers with great tasting protein drinks that provide the nutrition and sustainability benefits of being 100% plant-based.
“This investment comes at the right time as we further expand our go-to-market resources to capitalize on our rapid growth trajectory.”
OWYN’s flagship plant-based protein beverages line uses a proprietary blend of flax, pea protein, and pumpkin seed as a protein source instead of the whey protein typically used in protein drinks.
The company claims that its drinks are shelf stable and have roughly 20 grams of protein, less than four grams of sugar, and under 180 calories per serving.
OWYN currently offers its protein drinks in six flavors including Dark Chocolate, Cold Brew Coffee, Smooth Vanilla, Cookie N’ Cream, Tumeric Golden Mylk, and Strawberry Banana.
The company recently expanded its line to include meal replacement shakes in Chocolate and Chai flavors.
“OWYN brought much needed innovation to the protein beverage category, and its products clearly hit the spot for consumers looking for plant-based options with great flavors and clean ingredients,” said Mark Rampolla, co-founder and partner at PowerPlant Ventures.
“We are thrilled to partner with Mark and team to leverage their great work to date, accelerate growth, and help OWYN become one of the next great plant-based brands,” said Jason Cohen and Leigh Feuerstein, Co-CEOs of Halen Brands.
“We look forward to building on our partnership with the Clearlake, PowerPlant, and OWYN teams to further disrupt this category.”
The investment provides OWYN with additional capital to continue accelerating its growth as the company prepares to expand further into the conventional grocery channel next year.
In the first quarter of 2020, OWYN expects to add new accounts including Albertsons/Safeway, Target, Publix, and Vons.
The brand is also expanding in the drug store channel with CVS stores nationwide. In addition to its planned new accounts, OWYN is expanding placements in its existing retail partners, including Sprouts, Whole Foods and Vitamin Shoppe.
OWYN also has a strong and growing presence online through its website as well as through Amazon and other online retailers.