The Venture Codex

Participated · Series B · Dec 2021

NadaMoo! makes dairy-free ice cream using sustainably sourced, certified organic, vegan, gluten-free and non-GMO ingredients. The brand launched in Whole Foods Market in 2005 and today offers more than 20 flavors with nationwide distribution and a flagship Scoop Shop in Austin, Texas. Led by CEO Daniel Nicholson, the company is a certified minority business enterprise and a B‑Corp. NadaMoo! completed a $4 million Series A in 2017 and has now raised $10M in a Series B. The company intends to use the new funds to continue brand building and expand distribution, focusing on increased marketing support and product development. NadaMoo! produces plant-based (non-dairy) frozen desserts. The family-owned company is based in Austin and launched in Whole Foods in 2005. Growth has accelerated in recent years as non-dairy options have captured a larger share of the milk category. The company plans to use new capital to build out a national distribution footprint, develop new products, and expand its team. Leadership continuity is emphasized: Daniel Nicholson became financial controller in 2008 and took the helm as president and CEO in 2011. Management has stated the family owners will retain a substantial majority ownership following the investment.