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Lauren Ford

Lauren Ford

18 February 2022

Functional beverage brand Barcode closes $2.2m fundraising round

Functional beverage brand Barcode closes $2.2m fundraising round

Functional beverage company Barcode has closed a $2.2 million fundraising round, which will support the brand's retail expansion plans. The fundraising round included participation from investors such as Trousdale Ventures, Midnight Venture Partners, Cathexis Ventures, Silas Capital, Gaingels and Erewhon Market, as well as music artist Kelly Rowland and NBA basketball player Maurice Harkless. Barcode was launched by NBA coach and professional trainer Mubarak Malik after he discovered "hydration, recovery and mental recharge are key to optimising human health". Headquartered in Los Angeles, California, the company produces plant-based, adaptogen-powered functional beverages for everyday performance – currently available in lemon-lime, watermelon and pinot noir flavours. Malik commented: "I want Barcode to be an iconic brand – one that was born in NBA with athletes, moved to Hollywood to take on the better-for-you epicentre and eventually dominate the natural channel". The plan is for the brand to scale the business steadily over time by focusing on markets in Southern California, Texas and Florida, before expanding across the US.

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