US water brand Oxigen Water has raised $15 million in a Series B funding round joined by celebrity investors such as recording artist Brett Eldredge and professional basketballer Kevin Love.
Oxigen Water produces and markets a range of oxygenated, pH-balanced premium water products, which contain electrolytes and are intended to help drinkers ‘recover and rise’.
According to a statement from Oxigen, the brand has “grown 300-400% year-over-year for the past several years” and the brand will use the proceeds of the funding round to build further brand awareness through increased marketing and will further scale national distribution.
Other investors in the brand include Bryan Ezralow, CEO of The Ezralow Companies; Jonathan Glaser, principal of JMG Capital; Michael Meldman, co-founder of Casamigos Tequila and CEO of Discovery Land Co.; Victor Coleman, chairman & CEO of Hudson Pacific Properties; Neal Moritz, producer of the Fast & Furious film franchise; Anthony Pritzker, chairman and CEO of Pritzker Private Capital and managing director of Pritzker Group; Daniel Yergin, Pulitzer Prize-winning author; and Richard A. Gephardt, former Majority Leader and Minority Leader of the US House of Representatives.
Blair Bentham, founder and CEO of Oxigen, said: “We feel so fortunate to have the support of such exceptional investors, people who are at the very top of their fields.
“We have a powerful product with tremendous growth potential. We’re honoured that our investors believe in that potential and are joining the Oxigen team to propel the brand forward.”
Anthony Pritzker, added: “As a young company, to have such a strong management team in place overseeing sales, marketing, logistics and manufacturing is unheard of in the beverage space.
“The fact that we control our manufacturing across the country and can meet the demands now, and well into the future for Oxigen, all while delivering on quality, margin and scalability, puts Oxigen in a position to capture significant market share.”
© FoodBev Media Ltd 2020