Oatly raised $40M in more capital.

Oatly, a Malmö, Sweden-based food company, completed a new capital investment round totalling SEK 400M ($41M).

The money was provided by existing investors via a Cyprus-based investment company named Nativus.

Oatly, founded in 1990 based on research from Lund University and led by CEO Toni Petersson, built a business based on a brand for plant-based, dairy-free products. The company’s patented enzyme technology copies nature’s own process and turns fiber-rich oats into nutritional liquid food that is perfectly designed for humans. In 2018, Oatly had a turnover of SEK 1,037 million ($107M).

Oatly was acquired in 2016 by strategic investors Verlinvest and China Resources, through a newly formed joint venture company.