Rowdy Mermaid Kombucha has secured $3.5 million in the second tranche of its Series A funding, bringing the total capital raised to $7 million.
Founded in 2013, Colorado-headquartered Rowdy Mermaid makes a range of ‘low in sugar’ functional kombucha drinks, utilising flowers, herbs and roots.
Variants include Alpine Lavender, Lion’s Root and Strawberry Tonic, while the brand’s newest flavour, Watermelon Bloom, is set to hit retail shelves in June.
As with the first half of its Series A financing, funding was led by KarpReilly, a US private investment firm with a portfolio of emerging brands including Spindrift, KeVita and Iconic Protein.
According to Rowdy Mermaid, the funds raised will be used to support national retail expansion and the introduction of an e-commerce platform.
A portion of the capital is also earmarked for strengthening sales and marketing operations and for financing the research and development of new product lines.
“Year after year, we continue to see innovative products, initiatives and solutions from our friends at Rowdy Mermaid,” said Allan Karp, co-founder of KarpReilly.
“Rowdy’s function-forward flavours, approachable brand, and unwavering passion for product integrity are the key points of difference in an otherwise crowded category.”
Jamba Dunn, founder and CEO of Rowdy Mermaid Kombucha, added: “The past year has been an exciting time for all of us at Rowdy Mermaid as we further expand our national footprint and bring new flavours and functions to our product line.
“As we continue to dream up new ways to introduce functional beverages to as many people as possible, partners like KarpReilly help us achieve our goal of plant-based medicine from Rowdy in every fridge.”
© FoodBev Media Ltd 2020
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