Organic hydration brand, Cure Hydration, has raised $2.6 million in a seed funding round led by venture capital firm Lerer Hippeau.
Headquartered in New York, Cure offers a range of drink mixes made with ‘clean’ plant-based ingredients and no added sugar.
The brand says that its formula is based on the World Health Organization (WHO) standard for oral rehydration solution.
Lauren Picasso, founder and CEO of Cure Hydration, said: “Whether I was training for a triathlon or sweating it out in hot yoga, recovery was always a challenge. I decided to create a solution that could hydrate effectively but used plant-based ingredients.”
According to Cure, the funds raised in this round will be used to expand the company’s workforce, build customer awareness and develop new functions and flavours.
As well as Lerer Hippeau, the brand’s latest financing push was backed by M3 Ventures, Litani Ventures, a number of sports stars and celebrities, Thrive Market CEO Nick Green, and others.
Cure has also announced its expansion to 4,200 retail stores nationwide in the US and the launch of new variants, including Ruby Riot Grapefruit and Laser Focus Matcha.
“Now, more than ever, consumers are prioritising health in their daily lives and looking for products that are not only effective, but better-for-you,” said Caitlin Strandberg, principal at Lerer Hippeau.
“Lauren is an exceptional operator and we’ve been impressed with her ability to bring a WHO-approved formulation to market without compromising on product quality or efficacy. With this cash infusion and retail expansion, we’re excited to see Cure get into even more hands.”
© FoodBev Media Ltd 2020