+1-888-308-5802     
News Contact Us

Beverage maker Olipop raises USD 10Mn in a Series A funding round

Author : Pankaj Singh | Published Date : 2020-01-31 

Olipop Inc., a California-based beverage company, has reportedly secured USD 10 million in a Series A funding round. The participants in the round include present investors Rocana Capital, Boulder Food Group, Monogram Capital Partners, Collaborative Fund, and Finn Capital Partners, along with first-time investor Döhler Ventures.

Reportedly, the Series A funding round follows a USD 2.5 million seed round which closed in January 2019. Established in 2018 by CEO & Head of Formulation, Ben Goodwin and President, David Lester, Olipop makes a line of low sugar, prebiotic tonics that provide a better alternative to CSDs in flavors such as Cinnamon Cola, Strawberry Vanilla, Classic Root Beer, and Ginger Lemon.

Sources cite that much of the recent funding will be utilized to expand the company’s marketing and sales team and to grow its direct to consumer business. Moreover, part of the funding will also be utilized for product innovation.

In 2020, the company would be focusing on expanding its retail footprint on West and East Coasts, projecting to be in more than 1800 doors by summer, a spokesperson said.

As for now, the company has partnered with several distributors including KeHE, UNFI, and LA Distributing Co. and is available in retailers including Erewhon, Jimbo’s, QFC, Whole Foods, Bristol Farms, Lasens, Lazy Acres, and Fred Meyer. This month, the brand launched in Wegmans and plans to roll out in Sprouts locations in May.

David Lester claims that it was important for the company to firmly establish its brand in the western half of the United States in 2019. They wanted to fit well in the marketplace for which they were testing its supply chain and growth drivers before expanding the beverage nationally.

Lester added that the company is excited for the opportunity to lead the growth of digestive health section in grocery stores of the nation.
 

Source Credit - https://www.bevnet.com/news/2020/olipop-raises-10-m-in-series-a-round

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Facebook adds a new advertising tool for US political candidates

Published Date: 2020-02-17         Author: Pankaj Singh

As the 2020 United States election approaches, Facebook Inc. has recently announced that it would allow American political candidates to post branded content on its platforms. However, these contents will not be catalogue in its advertising library. Apparently, Facebook will now allow political g... Read More

Spotify to buy The Ringer to strengthen sports podcast content

Published Date: 2020-02-07         Author: Pankaj Singh

Spotify Technology S.A., a streaming music company, is making yet another acquisition aimed at getting a lead in the burgeoning podcast industry. The streaming-music juggernaut has reportedly agreed to purchase The Ringer, the sport-centric podcast media company operated and owned by Bill Simmons. &... Read More

Synteract acquires Clindata to expand into South Africa & Asia Pacific

Published Date: 2020-02-05         Author: Pankaj Singh

Synteract Inc., an innovative clinical research organization that supports pharma and biotech companies to bring new medicines to the market, has reportedly acquired the human health biometrics division of Clindata to satisfy market demand for adaptable biometrics services solutions. For the reco... Read More

© 2020 Fractovia. All Rights Reserved