Flow Alkaline Spring Water has secured a seven-figure investment from Virgo Investment Group, following a $45 million Series D round earlier this year.
Founded in 2015, the Canadian company sells alkaline mineral water, in a range of flavours, packaged in Tetra Pak paper cartons made from +/-75% renewable resources. The brand’s products are on sale across the US, Canada and Europe.
Flow is B-Corp Certified, a private certification by non-profit B Lab, said to recognise firms which ‘balance profit and purpose’ and create benefits for all stakeholders – not just shareholders.
This new injection of growth capital from California-based Virgo will be used to expand Flow’s distribution channels, fund new product lines and accelerate the company’s growth.
Flow has previously attracted backers from across the worlds of technology, sports and entertainment, including musicians Shawn Mendes and Post Malone.
With this latest investment, Virgo’s managing partner Scott Guthrie will join the Flow brand’s advisory group.
“As our first investment from an institutional fund, we were attracted to Virgo’s focus on creativity and building community, and how people interact through positivity — all in harmony with the ethos of the Flow brand,” said Flow founder and CEO, Nicholas Reichenbach.
“When you build a business based on something as simple and pure as water, which has been reinvented by many brands but is utterly indispensable as a household staple, you want partners like Virgo, that share the vision that great companies are built on not only better-for-you products, but products that are better for the planet.”
In 2018, Flow introduced a CBD-infused water called Flow Glow, and earlier this year the brand added a collagen-infused line to its range.
© FoodBev Media Ltd 2024