Vending

Awake chocolate secures $8M CAD ($5.84M USD) investment to fuel growth

Photo: Awake Chocolate

July 17, 2025

Awake Chocolate, a prominent brand in functional caffeinated chocolate bites and bars, has successfully closed an $8 million CAD ($5.84 USD) investment round, according to a press release. The funding includes $5 million CAD ($3.65 million USD) from Btomorrow Ventures, British American Tobacco's corporate venturing arm, and an additional $3 million CAD ($2.1 million USD) from BDC Capital. This brings Awake Chocolate's total funding to $15.5 million CAD ($11.3 million USD), signaling strong investor confidence in its rapid expansion and innovative product line.

Awake, known for its fair trade chocolate infused with caffeine, has seen remarkable growth, increasing sales tenfold since its inception and nearing $30 million CAD ($21.9 million USD) this year. The brand's products are available in over 3,000 locations across Canada, including major retailers like Shoppers Drug Mart and Costco, and in 15,000 food service and vending locations in the United States, with a growing presence in retailers such as The Fresh Market.

"This investment is a testament to the incredible growth we've achieved and the strong demand for our functional and delicious chocolates," Adam Deremo, CEO and founder of Awake Chocolate, said in the release. He added that the new capital will be used to scale operations, innovate the product line and reach more consumers across North America.

The funding will be strategically deployed to enhance supply chain efficiency through expanded co-manufacturing and supplier partnerships, support product innovation through research and development, and expand the internal team. Awake also plans to significantly boost its marketing efforts, including influencer partnerships, ambassador programs, industry event participation and sampling initiatives to increase brand awareness.