Cove Soda Raises Series A Led by Vanterra Ventures

Halifax, Nova Scotia, November 4, 2025— Cove Soda, a Canada-based functional carbonated soft drink (CSD) brand, today announced that the company has closed a $15 million USD Series A round led by Vanterra Ventures, a leading venture and growth equity fund known for backing high-growth consumer health companies. The round also includes investment from RiverPark Ventures, The Palm Tree Crew, Simple Food Ventures, Diplo, Miles Teller, Kygo, The Chainsmokers, Michael Rubin, Dan Lourenco, Jack Eichel, Aaron Ekblad, Matt Chapman, and JD Martinez. This new funding will support the company's continued rapid growth across North America, the introduction of new flavors, and the hiring of key talent.

Since launching its zero-sugar probiotic sodas in 2023, Cove has seen explosive growth across Canada and the U.S. where it can be found in over 7,000 retail doors including Costco, Target, Whole Foods Market, and Sprouts. Cove also recently announced a major distribution partnership with Keurig Dr. Pepper (KDP) Canada where KDP will use their expansive distribution network and strong retail relationships to accelerate Cove Soda's market penetration even further.

"Cove represents the next wave of innovation in the $250 billion carbonated soft drink market," said John MacLellan, Co-Founder & CEO at Cove. "Partnering with Vanterra Ventures marks an exciting step forward as we accelerate our momentum and bring our vision to life heading into 2026 and beyond."

Cove was founded in Halifax, Nova Scotia, by brothers John and Ryan MacLellan, who were seeking healthier everyday refreshments that reminded them of their childhood. Ryan, the Chief Innovation Officer with a background in physics, has meticulously crafted each flavor to most closely resemble the delicious, nostalgic flavors that consumers crave, while hitting on function. "Flavor is at the forefront of everything we do at Cove," he said.

"At Vanterra, we seek out innovative companies disrupting massive markets within consumer health," said Ellis Fried, Principal at Vanterra Ventures, who has joined Cove's Board of Directors. "Cove is emblematic of that strategy as it brings the world's first zero-sugar functional soda to market with delicious, nostalgic flavors, quickly winning over consumers across North America."

Consumers can purchase Cove Soda on Amazon and at thousands of retailers across North America including Costco, Target, Whole Foods, and Sprouts. To stay up to date on the latest news and product launches, visit at the link below and follow the brand on Instagram and TikTok.

About Cove Drinks

Founded in 2016 by brothers John and Ryan MacLellan, Cove Drinks originated with the creation of Cove Kombucha in their mother's kitchen in Malignant Cove, Nova Scotia. In 2023, the brothers asked, why can't soda be healthy, and Cove Soda was born. Cove Drinks is striving to make healthy easy with gut-friendly, guilt-free, game-changing functional drinks. Cove Drinks is distributed in over 7,000 retail locations across North America including Costco, Starbucks, Target, Whole Foods Market, and more. For more information, visit at the link below.

About Vanterra Ventures

Vanterra Capital is a leading private equity investment firm that develops specialized fund platforms. In 2019, Vanterra Capital formed Vanterra Ventures, a venture and growth equity fund designed to capitalize on the substantial market opportunity in consumer health while leveraging the team's successful private equity track record. Vanterra Ventures invests in disruptive companies in the consumer health ecosystem across products, services, and technologies.