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Coco5, the coconut water brand backed by professional athletes, including basketball players Devin Booker and Charles Barkley, has closed a $10 million funding round as it looks to broaden its footprint beyond the traditional sports drink aisle.

The capital injection will support the hiring of senior executives across sports nutrition, consumer packaged goods and retail, as the brand strengthens its leadership team to scale operations and drive new product innovation.

Coco5 is centred on coconut water enriched with electrolytes, designed to support performance, recovery, and general wellness. The brand leverages its association with professional athletes to position itself at the intersection of sports nutrition and mainstream wellness.

By combining natural hydration with functional benefits, Coco5 targets both active consumers and health-conscious shoppers seeking alternatives to traditional sports drinks. Flavours currently include cherry, lemon, passionfruit, pineapple and coconut.

Originally distributed through sports and fitness channels, Coco5 is now expanding into healthcare, hospitality, and international wellness-focused markets.

The brand is also exploring flavour extensions and additional product formats to broaden its functional beverage portfolio and capture a larger share of the growing hydration and wellness segment.

The $10 million injection will fund strategic growth initiatives, including expanding key wellness-focused channels and accelerating product innovation.

Coco5 has already begun seeing traction beyond the traditional sports drink aisle, reflecting broader consumer demand for functional, health-oriented beverages.

The investment and leadership expansion could position Coco5 as a notable challenger in the functional hydration space, competing with established sports drink and wellness beverage brands both domestically and internationally.

Featured image: © Coco5