Vive Organic, which produces a range of cold-pressed wellness shots, has raised $7 million in a Series A funding round led by investment fund Powerplant Ventures.
Vive Organic was formed in 2015 after the company’s founders recognised the growing consumer awareness and interest in wellness shots, but realised there was no clear market leader in the category.
The company’s product range is comprised of 2oz ready-to-drink wellness shots made from organic and non-GMO ingredients, and the company first released its products at independent natural grocers in Los Angeles in April 2016.
The company says that it will use the funding to expand distribution nationally in both natural and conventional grocery stores and other retailers, allowing the company to continue its rapid growth.
Wyatt Taubman, CEO & co-founder of Vive Organic said: “The market for plant-powered, functional wellness shots is poised for exponential growth.
“This investment round allows us to acquire the talent we need to grow our distribution channels and to continue to lead in this exciting new category.”
Mark Rampolla, co-founder and partner at Powerplant Ventures added: “It’s rare to have the opportunity to build an entirely new category. Vive Organic has that and has assembled an impressive team that will allow them to lead the category.
“I’ve been a fan of the founders and products for more than two years and am thrilled to work with them more closely now to help them scale.”
© FoodBev Media Ltd 2019