BevNET Live Summer 2023: The Story of My Raise
Three new beverage entrepreneurs who’ve closed or are raising financing rounds over the past year discuss their experiences pitching and working with angel investors and institutional capital in an inflationary environment, how they’ve considered their path to profitability and operations, and how they’ve worked with their existing connections to find startup financing.
About the Entrepreneurs:
Jaqui Rice Gold serves as CEO of G.O.A.T. Fuel, Inc. (“Greatest of all time”) - the health-focused energy drink company she co-founded with her father - NFL Pro Football Hall of Famer and noted G.O.A.T. Jerry Rice - and her husband Trevion Gold, after they noticed a gap in the market for a cleaner and healthier energy drink that inspired and fueled them as busy entrepreneurs. G.O.A.T. Fuel, the first energy drink to contain cordyceps mushrooms, has become a contender in the multi-billion dollar beverage category in a relatively short time since its launch in early 2020. Under Jaqui's leadership, G.O.A.T. Fuel tripled down on their DTC model after launching 2 months before pandemic lockdowns began, and midway through 2020 the team launched a rollout plan to gain an advantage at the retail level based on their e-commerce traction and learnings. In their first full year of business they saw 250% growth, and are now available in stores nationwide, including their recent distribution expansion into HEB, Publix and Walmart. They are also the Official Energy Drink of the Los Angeles Lakers and the beverage has become the go-to energy drink for athletes and non-athletes alike as the company believes that in the game of life, there is an inner athlete in all of us. Jaqui holds a degree in Government from Georgetown University and prior to G.O.A.T. Fuel was CEO and Founder of Tressly, Inc., an online marketplace for buying and selling hair products, another market Jaqui saw as under-represented.
Rohan is the co-founder of The BAD Tea Co. and has a background as an investor, beginning his career in banking before spending the last 6 years acquiring and operating consumer brands with OpenGate Capital and Foundry Brands. A native Michigander and diehard Michigan fan, Rohan grew up as a first-generation Indian-American - where Chai and other eastern teas were commonly used as caffeine sources - and started The BAD Tea Co. to share global flavors with US consumers.
Blodin Ukella is the Founder and Chief Executive Officer of The Ryl Company, a cutting-edge beverage platform catering to Gen-Z and Millennial customers. The company is dedicated to offering customers products that traditionally cater to indulgent and high velocity categories, such as iced tea, in a clean, functional, and sustainable format. The Ryl Company's product portfolio includes its flagship line, Ryl Tea, which underwent 19 different product iterations over a six-month period until Ryl’s team successfully developed the first RTD tea that combined the indulgent and convenient attributes of legacy iced tea with the clean and functional attributes of made-at-home tea, via their proprietary Ryl Polyphenol Technology. After securing a multi-million dollar round in June 2022, Ryl Tea officially launched in January 2023, with a fast and strategic roll-out in the Northeast's key retail chains, such as Wegmans, Shoprite, and Whole Foods Market. In March 2023, Ryl Tea expanded nationwide at Sprouts Farmers Market. The brand recently shared a major announcement about its newest major investor and brand ambassador, Country Music Superstar, Morgan Wallen, in April 2023. The Ryl Company is poised to become a trailblazer in functional tea, with tactical plans to expand the brand in key regions across the United States throughout the second half of 2023. Before launching Ryl, Blodin served as the Chief Strategy Officer for OWYN (Only What You Need), the leading plant-based RTD protein brand in America. Blodin's journey in life began as a war refugee from his home country, Kosovo, when he and his family fled their home and sought refuge in Northern Macedonia for six months before coming to the United States in 1999. Blodin is also on the Entrepreneurial Advisory Board at his Alma Mater, Rutgers Business School, and resides outside of Morristown, NJ, with his fiancé, Allison.
Comments