AWAKE Raises $8M for Caffeinated Chocolate

AWAKE Chocolate, the maker of delicious, functional, caffeinated chocolate bites and bars, announced the completion of an impressive $8 million CAD investment round. The funding was led by a $5 million CAD commitment from Btomorrow Ventures (BTV), the investment arm of British American Tobacco (BAT), and an additional $3 million CAD from BDC Capital. This new round brings AWAKE’s total investment to $15.5 million CAD, highlighting investor confidence in the brand’s continuous growth and innovative product lineup.

The caffeinated chocolate bites and bars from AWAKE are crafted with Fairtrade chocolate, offering a tasty boost without the need for coffee or energy drinks. Since launching in 2012, AWAKE has grown more than 10x, now approaching CAD 30 million in sales for this year.

Where to Find AWAKE

AWAKE Chocolate products are now available in more than 3,000 retail locations in Canada, including Shoppers Drug Mart, Loblaws, Bulk Barn, Shell, and Costco Canada. In the United States, AWAKE chocolates can be found at over 15,000 food service and vending locations, with retail distribution in The Fresh Market, Meijer, and Big Y. Use the AWAKE Store Locator to find locations near you.

Strategic Growth and Product Innovation

“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 deployed to:

• Enhance supply chain efficiency through expanded co-manufacturing and new supplier relationships

• Deepen research and development for product innovation

• Expand the internal team to support ambitious growth goals

• Boost brand awareness through influencer partnerships, ambassador programs, sampling initiatives, and participation in industry events

Investors Confirm Confidence in Functional Snacking

“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 other innovator CPG companies such as HOPWTR, Tru, Moment, Mais Mu, and More Labs.

Flavorful Variety and Responsible Credentials

With a broad menu of flavors like Peanut Butter, Salted Caramel, and Salted Almond, as well as Dark and Milk Chocolate, AWAKE ensures there’s something for everyone. All products use Fairtrade-certified chocolate, and many varieties are gluten-free, vegan, and Non-GMO Project Verified.

To discover more about AWAKE Chocolate and browse its full line of functional chocolate snacks, visit the AWAKE Chocolate website.

With the support from this new investment and an ever-growing fan base, AWAKE Chocolate is set to energize the snacking world like never before.