Published on
11/4/2024
18/4/2024

AWAKE secures a further C$5 million from Btomorrow Ventures

BTV leads the Canadian functional confectionary brand’s latest funding round.

AWAKE now in Costco
Portfolio

Btomorrow Ventures (BTV) is pleased to announce our latest follow-on investment of C$5 million into caffeinated chocolate brand, AWAKE, based in Ontario, Canada.

We made our first investment into the company three years ago in 2021, and later provided further financial support with a C$5 million follow-on funding round in January 2023. This latest investment further confirms our commitment to the company’s growth and expansion into new and exciting markets.

AWAKE, a Fairtrade company which makes premium chocolate with caffeine, has had an exciting start to 2024, launching in all Costco Canada warehouses in Ontario, Quebec, New Brunswick, Newfoundland & Labrador and Nova Scotia. The brand has also launched nationally with Canada’s largest retailer, Loblaws, and has grown its footprint in the US Northeast, with launches at both Stop & Shop and its sister chain, Giant.

We are looking forward to seeing even more great strides in the company’s growth throughout the coming months and years.

Lukasz Garbowski, BTV’s Investment Director, says:

"AWAKE was one of BTV’s early investments and we are happy to continue supporting them, and to partner with them on their journey. 2024 will be an exciting year of growth for the company.”

AWAKE’s co-founder and CEO, Adam Deremo, adds:

“BTV has truly been a value-added investor for AWAKE, pushing us to think bigger in our strategic plans and connecting us with operating partners that have helped in every area of the business. We are delighted to complete this financing and further our relationship.
“Funding from this follow-on round will position us to continue scaling our Amazon business and fully support new retail launches at Costco, Loblaws, Stop & Shop and Giant Martin’s. We are excited to see our retail footprint growing, meeting consumer demand for an increased number of options to purchase AWAKE in-store.”

Many thanks for BTV’s deal team for making this happen: Investment Director, Lukasz Garbowski; Senior Legal Counsel, Peter Wozny; Investment Associate, Sam Morris; Investment Analyst, George Leivadas; and Legal Secondee, Will Jones.

Written by
Andrea McVeigh
Communications and Social Media Manager
Written by
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