Californian start-up Lemon Perfect has secured $6.6 million in funding, which it will use to accelerate the growth of its cold-pressed lemon water.
Notable investors in the round include NBA stars Channing Frye and Nick “Swaggy P” Young, former COO of Bai Brands, Barak Bar-Cohen, and ESPN’s Jordan Schultz.
Founded in 2017, Lemon Perfect is a zero-sugar cold-pressed lemon water brand with electrolytes and essential antioxidants and a goal to be at the forefront of the better-for-you movement.
The certified organic drink is available on Amazon and in about 3,000 stores in California including 7-Eleven, Target and Whole Foods Market. Between February and July 2020, the brand claims it has seen an 809% increase in sales.
Lemon Perfect said it will use the capital to fund distribution growth, increase marketing support and recruit key talent.
“The early investor enthusiasm for Lemon Perfect has been energising and humbling,” said Yanni Hufnagel, Lemon Perfect’s founder and CEO.
He added: “The brand is resonating broadly across multiple demographics, and that diversity is well represented by our investors.”
Other investor funds that participated in the round include Beechwood Capital, The Big Squeeze, Goat Rodeo Capital, LivWell Ventures and Skyview Capital.
“We are extremely excited to be partnering with Yanni. Lemon Perfect has that winning combination that is so difficult to find: an incredible product, an amazing team, and a massive market opportunity,” said Alex Soltani, Skyview Capital’s chairman and CEO.
The financing round comes after the start-up secured a distribution deal with New York’s Big Geyser in February, a US distributors of premium non-alcoholic beverages and snacks.
Hufnagel added: “Our goal at Lemon Perfect is to be at the forefront of the better-for-you, for everyone movement by building products that meet at the intersection of flavour and good-for-you. That so many tastemakers and industry insiders share our vision of disrupting an American beverage ecosystem still largely dominated by high-calorie, high-sugar options is very motivating.”
© FoodBev Media Ltd 2022
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.