Functional beverage brand Vive Organic has raised $13 million in a Series B funding round led by Monogram Capital.
Founded in 2015, Vive produces ‘wellness’ shots, which it claims have immunity-boosting benefits.
The brand uses cold-pressed technology to extract juice from the roots, herbs and flowers used in its organic, non-GMO beverages.
Vive, which sells its products through both direct-to-consumer and retail channels, says that during the past several months it has increased its production five-fold to keep up with growing demand.
The funds raised in this latest round, which also received participation from Cambridge SPG and Powerplant Ventures, will be used to expand Vive’s digital footprint and ‘foster its innovation pipeline’.
“We feel so fortunate to have found such exceptional partners in Monogram, Cambridge SPG, Powerplant Ventures and our roster of investors,” said Wyatt Taubman, CEO and co-founder of Vive Organics.
“We are very proud of what we’ve created and greatly value the expertise our investors will provide in this next stage of our business as we look to further develop our online offerings and find new, unique ways to connect with consumers at retail.”
Jared Stein, co-founder and partner of Monogram Capital, added: “Vive has tapped into an incredible opportunity to provide consumers with sustainably sourced, functional products that promote and support wellness needs.
“We are thrilled to join together with this pioneering brand at this prescient time where consumers have never been more focused on their health and wellness needs and prioritising their immunity.”
In 2018, Vive Organic raised $7 million in its Series A funding round, which was led by Powerplant Ventures.
© FoodBev Media Ltd 2019