Shaka Tea, a Hawaii-based maker of ready-to-drink and bagged tea products, has raised $2.3 million in a funding round led by farming company Mahi Pono, bringing the brand’s total financing to $4.1 million. The round also includes investments from King’s Hawaiian, Gingerbread Capital, LDR Ventures, Allison Rose Culinary Ventures and Park Bench Capital as well as several angel investors.
We’re embarking on a journey to give food and beverage company founders a look behind the branding curtain and share insights from a real-time case study...and we need one of you to join us.
Brands started gearing up for warmer weather this month, with a limited edition summer launch from DRY Botanical Bubbly, new lemonades from IZZE and cherry-flavored releases from Olipop and Ugly. Check out the gallery for notable May launches, including Rebbl’s new keto line and kombucha-infused sparkling water from Mother Kombucha.
Allison & Stephen Ellsworth, co-founders of prebiotic soda brand Poppi, spoke about lessons learned from their first year in business, the keys to winning investment on “Shark Tank,” how they navigated a brand overhaul and maintaining their independence while aligned with influential and experienced strategic partners.
Office Hours returns Tuesday, June 2 at 3 p.m. ET. Jeff Klineman, BevNET’s Editor-in-Chief, will bring veteran investment bankers Jay Novak and Brandon Ng from Houlihan Lokey on the livestream to discuss the current fundraising and M&A market and take questions from viewers.
While both the CBD and cannabis industries have attracted increased attention from consumers, investors and retailers alike, brands within these categories still face a range of unique operational challenges. Jeremy Goldstein, the COO and co-founder of both CBD brand Caliper Foods and Cannabis company Stillwater Brands, sees the potential for massive growth if the FDA “gets off its hands.”
The Food and Drug Administration (FDA) on Friday released temporary guidance to allow food manufacturers to change ingredients without updating product labels, a move aimed at preventing supply chain disruptions during the COVID-19 pandemic. In response, company and industry leaders are speaking up to promote consumer safety.
At-home food and beverage consumption trends remain strong over the last month, according to an analysis of Nielsen data by Goldman Sachs Equity Research released earlier this week.
Rowdy Mermaid Kombucha announced today it has raised an additional $3.5 million from investment firm KarpReilly in a “second and final tranche” of its Series A funding round, bringing the total financing to $7 million. In February 2019, KarpReilly led the Colorado-based brand’s initial Series A round and co-founder Allan Karp joined Rowdy Mermaid’s board of directors.
Matt Plitch, founder of sustainable dairy brand Neutral, envisions carbon neutral food and beverage as the next big food movement. As a “global food revolution” in line with the recent rise of veganism, he sees a future in which grocery stores will have a carbon neutral aisle and “neutralists” can shop for products with net-zero carbon emissions.
The thirteenth round of Elevator Talk Livestream features leaders from Full Bar, Waiakea Hawaiian Volcanic Water, Recoup Beverage, Favor and more. This week's special co-host is Nicole Dawes, the founder of Late July and Nixie Sparkling Water.
Boston-based functional shot brand DrinkTru has secured $1.5 million in new funding, founder James McNamara told BevNET last week. According to founder Jack McNamara, the company had been in talks over a potential investment with a venture capital partner for about four months before they pulled out in March, requiring the brand to quickly change gears.
Waterloo names three new hires as the brand shifts focus; The Alkaline Water Company names director of operations; Regatta Craft Mixers adds four new members to marketing and sales teams; Alan Murray named chairman of the board at Sambazon; Brian Pear joins PUSH Agency as CMO.
SOS Hydration, a California-based maker of electrolyte drink mixes, is the latest powdered beverage brand to take the leap to liquid, announcing today it will launch a ready-to-drink enhanced water line this summer. The line features Citrus, Fruit Punch, Mango and Watermelon flavors and will retail for $2.48 per 16.9 oz. bottle.
