Dash Water, a zero-sugar, zero-calorie seltzer company that uses ‘wonky’ fruit to infuse its beverages, has completed an £8.7 million Series A funding round.
The round was led by private equity firm Beringea and also included participation from Irish rugby captain Johnny Sexton, Dash chairman David Milner and others.
Dash co-founder, Alex Wright, commented: “This is a big moment for Dash. This latest investment gives us the firepower we need to change the way people look at soft drinks for good. It’s clear that people want a genuine alternative to the sugary soft drink, one that’s healthy and uncompromising on taste.”
He continued: “But until now, there’s been no other option. It’s brilliant to welcome big hitters who share our vision and want to join us on the next part of the Dash journey. From Beringea’s team to international sports stars, it’s amazing to see how many people believe in using wonky fruit to create delicious, healthy drinks.”
The funds will be used to support Dash’s growth and expansion plans, including increasing production and distribution and investing in research and development. Dash also plans to enter new markets across Europe and increase its presence in Australia.
Luke Edis, investment manager at Beringea, commented: “Beringea sees tremendous potential in Dash. While seltzer is a multi-billion-dollar industry in the US, it is a product that has vast potential for growth in the UK and Europe.”
He added: “As the UK’s leading seltzer, Dash is driving the rise of this increasingly valuable category. Its sustainable product, using wonky fruit and veg to reduce food waste, is resonating with consumers looking for a healthy, flavourful drink, and we believe it can go from strength to strength across the UK and into Europe.”
© FoodBev Media Ltd 2023
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