US-based functional beverage brand Roar Organic has raised $5.6 million in a funding round led by venture capital fund AccelFoods.
Roar produces and markets a range of organic, low-calorie electrolyte-infused beverages for the US market, which utilise a proprietary coconut water base and are free from artificial sweeteners and preservatives.
Roar claims that the funding will enable the brand to expand its team and bolster product development, as the brand aims to “become a household name in the beverage space.”
Roar Organic CEO and founder Roly Nesi said: “As we continue to grow and disrupt the beverage space, we are excited to receive this round of funding that supports the resources necessary to maintain our focus on product quality and our strong commitment to consumers who won’t settle for anything less than the best.
“We are thrilled to have found a partner in AccelFoods that truly aligns itself with companies that take on totally new categories in the food and beverage space, and we look forward to strengthening our foothold with this round of funding.”
Jordan Gaspar, managing partner of AccelFoods added:“AccelFoods is proud to be a female-founded and -led fund in consumer packaged goods, and ROAR appeals to us as both dedicated investors and loyal consumers.
“When we look at companies, we look for ones that are paving new paths and re-imagining categories in the food and beverage space — and ROAR is doing just that with its clean label and attractive branding.
“Working with Roly to expand the ROAR line and continue to make a splash in the functional beverage space aligns perfectly with our strategy at AccelFoods.”
© FoodBev Media Ltd 2021
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