The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

US energy drink start-up, Lucky Energy, has raised another $14 million in an oversubscribed Series A1 round.

The investment, which now brings the company’s total funding to over $40 million, was led by venture capital firm, Maveron, with backing from DMG Ventures, Second Sight Ventures, and other existing investors, such as Imaginary Ventures, Brand Foundry Ventures,  Sapphire Sport and Sugar Capital. 

Established in 2023 by Richard Laver, Lucky Energy said it has witnessed 'explosive growth,' with its products now available in 10,000 outlets and plans to expand to an additional 15,000 before the end of the year.

Lucky Energy stated that it intends to use the capital to ‘accelerate’ distribution, launch more products and hire in key business areas. Additionally, the company recently welcomed Dan Ginsberg, former CEO of Red Bull, to its board of directors. 

Laver, who remains the company’s largest shareholder, said: “With this latest investment round and marketing, branding, and operations executive Dan Ginsberg now on our board, we are well-positioned to lead the category.”

Dan Levitan, co-founding partner of Maveron, commented: “When we tasted the product, we were immediately impressed by its incredible taste, clean ingredients and bold brand vision. Maveron is thrilled to partner with Lucky Energy and support it on its path from obscurity to ubiquity in the vibrant and rapidly evolving energy drink market.”

Speaking about the brand, Ginsberg added: "In an extremely competitive category, there are very few brands that have what it takes to break through and build consumer-driven success. Lucky is one of those very, very few. The team, the product and the story are stellar and will compete at the highest level.”

 Top image: © Lucky Energy