UK plastic-free gum company Milliways has successfully raised £3m ($3.85m) in a recent funding round to expand its distribution across the UK.
Founded in 2021, Milliways is a sustainable chewing gum manufacturer aiming to revolutionize the industry with its plastic- and aspartame-free gum. The fresh capital was obtained from private-equity investors and will be utilized to accelerate growth in the UK market.
In September 2021, the start-up raised £1m, and in April of this year, it achieved a major breakthrough by securing a supermarket listing with Sainsbury’s. Milliways’ products are now available in about 6,000 stores nationwide, including popular chains such as Tesco, WHSmith, and Whole Foods, as well as independent retailers.
With this new funding, Milliways plans to invest further in research and development, increase awareness about the plastic ingredients found in conventional gum, and explore opportunities for international expansion. The company remains eager to establish itself as a household name, offering consumers healthier and sustainable chewing gum options.
Tom Raviv, the founder and CEO of Milliways, expressed enthusiasm about the company’s prospects and the support received from high-caliber investors. He described the gum industry as a “David and Goliath story” and emphasized that Milliways is only at the beginning of its journey.
Milliways’ funding round attracted notable investors, including private-equity firm KLT, Leon Amram, a veteran of the chewing gum industry who previously sold Intergum to Cadbury, and David Morris, a partner at Blandford Capital and former board member of SodaStream.
Brad Kark, CEO of KLT, conveyed excitement about the partnership, emphasizing Milliways’ progress in developing a world-class product, strong team, and unique brand. KLT looks forward to supporting Milliways’ global ambitions of providing sustainable and enjoyable gum while making a positive impact on the environment.
Chewing gum is currently the second most littered item globally, right after cigarettes. Most gum contains non-biodegradable single-use plastic. Milliways’ gum packets, priced between £0.99 and £1.25, aim to combat this issue.
