Mooski Secures $1.5 Million to Scale Chilled Oat Bar Production Amid Triple-digit Growth

Chilled oat bar brand Mooski has landed a $1.5 million Series A investment round from an angel investor who previously participated in the brand’s seed round. The investor has extensive experience in the refrigerated bar category, which founder and CEO Robert Broome called “extremely advantageous” for the brand.

Having established product-market fit, Mooski will use the fresh funds to accelerate scaling efforts from a sales, operations and marketing standpoint. The company is currently experiencing its second consecutive year of triple-digit growth, and the capital infusion will help cover expenses associated with that boom, including trade spend and slotting fees.

Mooski will also deploy the capital to fund larger, more frequent production runs necessary to meet demand. Most importantly, said Broome, the brand will invest in marketing efforts to generate greater awareness alongside its recent distribution gains.

“We have a unique and larger-than-life mascot, Alpy, that gives our brand an added layer of character and depth that transcends product. Our goal with these funds is to leverage Alpy in a bigger way and across more marketing touchpoints – social, experiential, partnerships, etc. – to drive awareness and intrigue about Mooski,” Broome told Nosh via email.

Broome – who previously held marketing and innovation roles at Clio and RXBAR – founded Mooski in 2022 on a mission to clean up the granola bar category by focusing on a short, clean ingredient deck and low-sugar, low-calorie positioning. Available in three flavors – Chocolate Peanut Butter, Cookie Dough and Peanut Butter Banana – the bars are a portable spin on muesli that feature 5 grams of protein per serving.

The startup has expanded its brick-and-mortar retail footprint to nearly 1,000 stores across the country since launch. This year, Mooski introduced its products into New Seasons, Woodman’s and Baron’s Market and broke into national retailers for the first time, including launches at Albertsons’ Pavilions division and Kroger, Mariano’s and Roundy’s stores.

The distribution push has, in part, been fueled by a shift in the brand’s manufacturing strategy. In 2023, Mooski pivoted from self-producing in San Diego to working with a co-manufacturer in the Midwest.

“Our switch to a co-man was exactly what we needed to scale the brand. Not [just] because it increased our capacity tremendously – but it also improved our margins and allowed us to focus on other areas of the business at a time when our self-manufacturing was consuming a lot of time, energy and resources,” said Broome.

Mooski has also established a strong presence in the online grocery channel through partnerships with Hungryroot, Misfits Market and Thrive Market. As a perishable brand, the channel allows Mooski to get its products into consumers’ hands without having to manage its own cold chain direct-to-consumer (DTC) operation. According to Broome, the brand’s online grocery partners have the scale to get its products to customers at the right price and at a margin that is, on average, higher than retail.

“These partnerships also allow us to acquire new customers in areas where we don’t yet have retail distribution. Building this national consumer base will only help our retail efforts when we do expand into more places,” said Broome, adding that while the majority of Mooski’s revenue is still retail-based, online grocery is a “healthy and growing” chunk of its business.

The U.S. snack bar market (spanning snack, nutrition and performance bars) is forecasted to reach $9.6 billion by 2029, according to a recent report from Mintel. Bars are not yet the top snacking choice, but the category excels in its perception as a better-for-you option, effectively addressing consumer health needs.

Significant opportunity lies in the refrigerated subcategory, with upstart bars like MUSH and Mid-day Squares also seeking to capture consumer demand for convenient, versatile snack options with an emphasis on unique flavors, textures and formats.

Looking ahead, Mooski will spend the back half of the year focused on strategically entering new doors, as “not every channel or retail banner will be the best fit for our product,” said Broome. The brand has identified a list of specific retailers in which it believes its chilled bars will resonate with consumers, and will strictly be pursuing these accounts.

From an R&D standpoint, Broome said Mooski’s goals are two-fold: “One, continue to make our current product better, as we firmly believe that a consistently excellent product will sell itself. Two, launch new innovations that will both expand our shelf presence and open us up to new occasions.”