Energy drink startup Plant Press has completed a seed round of just over $1.2 million with investors including former Tory Burch CMO Miki Berardelli and former NBA Players Association head Roger Mason.
The round, which closed in August, also featured participation from Canadian music producer BLOND:ISH and two unnamed Grammy Award-winning artists. Until now, Plant Press had been bootstrapped by founder Ariana Farahani, a former research scientist.
“[For the raise], a lot of people came in and brought their strengths from within their industry,” said Farahani, noting that Berardelli helped craft the product into an entire brand while BLOND:ISH will play an integral part in building Plant Press’ presence within the music industry.
Launched in 2021, New York-based Plant Press produces a line of 12 oz. canned “clean caffeine” energy drinks in Grapefruit Ginger, Passionfruit Peach and Watermelon flavors. Each can boasts 100mg of caffeine derived from green coffee beans and contains 3 grams of sugar from agave and monk fruit.
Keeping science at the forefront, Plant Press also features a “calculated amount” of electrolytes and Vitamins B6, B12, C, D and E as well as selenium and folic acid. The drinks retail for $33.99 per 12-pack via the brand’s website and on Amazon.
The idea for the brand came about while Farahani was spending long hours in the library on a path to pursue a Ph.D. in neuroscience at Columbia University, during which drinking coffee was a constant.
“There was whitespace in the market where if you’re a health-conscious consumer, your options for energy are coffee and matcha, you’re never really touching traditional energy drinks,” Farahani told BevNET. “There was nothing genuinely healthy on the market to replace afternoon coffee.”
Last summer, she quit her job in the science field to pursue Plant Press full-time, which is when the brand started “properly hitting shelves.” In March 2023, the brand landed all three of its SKUs in specialty retailer Erewhon, where they sell for $3.99 per can.
The new capital will go toward growing the Plant Press team, expanding the brand’s product portfolio and increasing its retail footprint. The company, which currently has an immediate team of three employees and an extended team (including advisors) of seven, will soon be hiring for sales and marketing positions.
The funding will also support Plant Press’ growth across channels. Though the brand’s direct-to-consumer business presently accounts for 50% to 60% of sales, Plant Press has also found success in gyms, office buildings (such as Morgan Stanley, Goldman Sachs and American Express Corporate) and banks. According to Farahani, the accounts grew organically, with businesses using the QR codes she supplied on samples to reorder the product.
By exploring a wide array of channels, Plant Press is actively targeting an extremely broad demographic.
“We’re going after the entire marketplace that consumes caffeine and is healthy and providing them something that actually makes them feel their best so that they can accomplish everything in [their] day-to-day lives, whether it’s in sports or just sitting at the office desk,” said Farahani.
Competitors in the better-for-you energy drink space include Gorgie, C4, Celsius, Alani Nu and G.O.A.T Fuel, which closed its own $5 million seed round earlier this year. In the two-week period ending September 23, the pace of energy drink sales slowed slightly, increasing 6.5% in the period (+7.7% for four-weeks and +11.7% for 52-weeks).
Despite being matured, the energy drink category is just at the beginning of innovation, SPINS market insights director Scott Dicker said during an education session at Expo East. With a majority of brands still using either sugar or artificial sweeteners, there’s plenty of room for close-to-zero or zero sugar to make an impact.
Looking ahead, to further its own impact, Plant Press plans to build out its social media marketing presence, which it believes will help distinguish the brand from its competitors while also highlighting its investors.
“As we start to expand our voice through social media and give Plant Press a bit of a voice, it’ll showcase [the drink’s] health [attributes] and how it can work in the everyday person’s life,” said Farahani.