AWAKE Chocolate, Leading Functional Chocolate Brand, Lands USD5.85m Investment
AWAKE Chocolate, the maker of functional, caffeinated chocolate bites and bars, announced the successful close of an USD5.85m investment round. The funding comprises a significant contribution from Btomorrow Ventures (BTV), the corporate venturing arm of British American Tobacco (BAT), and BDC Capital (BDC). This latest investment brings AWAKE Chocolate’s total funding to date to an impressive USD11.326m, underscoring strong investor confidence in the brand’s rapid growth and innovative product offerings.
AWAKE offers delicious, functional bites and bars crafted with Fairtrade chocolate and caffeine, offering a perfect boost without the need for coffee or energy drinks. AWAKE has experienced a remarkable trajectory, growing more than 10x since its inception and approaching USD22m in sales this year. The brand’s chocolate is now available in more than 3,000 locations across Canada, including major retailers like Shoppers Drug Mart, Loblaws, Bulk Barn, Shell, and Costco. In the United States, AWAKE is sold in 15,000 food service and vending locations, with a growing presence in retailers such as The Fresh Market, Meijer, and Big Y.
“We are thrilled to close this latest funding round with the continued support of Btomorrow Ventures and a new partnership with BDC,” said Adam Deremo, CEO and Founder of AWAKE Chocolate. “This investment is a testament to the incredible growth we’ve achieved and the strong demand for our functional and delicious chocolates. With this infusion, we’re focused on further scaling our operations, innovating our product line, and reaching even more consumers across North America.”
The new capital will be strategically deployed to support key initiatives designed to position AWAKE for long-term growth and market leadership. A significant portion of the investment will enhance supply chain efficiency through expanded co-manufacturing partnerships and new supplier relationships, ensuring the brand can meet escalating consumer demand. The company will dive deeper into research and development to foster new product innovation and continue to expand its internal team to support its ambitious growth trajectory. AWAKE will also heavily focus on robust marketing efforts; this includes impactful influencer partnerships, engaging ambassador programs, participation in key industry events, and expanded sampling initiatives, all aimed at driving brand awareness and reaching new customer segments.
“Our continued investment in AWAKE reflects our strong belief in its performance and the depth of the management team,” said Lukasz Garbowski, BTV’s Chief Investment Officer “As consumers increasingly look for more from their food, the ‘wellness and stimulation’ sector, particularly functional food and beverages, is a key focus area for BTV to deliver on BAT’s mission to create A Better Tomorrow.” BTV’s investment portfolio includes additional innovative CPG companies such as HOPWTR, Tru, Moment, Mais Mu, and More Labs.