Air up, a Munich based startup, a refillable drinking bottle that gives flavour to tap water by using a fragrance, raised over Euro 40 million in the latest funding round led by Five Seasons Ventures on 24 September 2021.
Investors: Five Seasons Ventures led the current round of funding with participation from PepsiCo, Ippen.Media, and Oyster Bay.
The objectives behind the funding: The company will deploy the current proceeds to accelerate expansion across Europe and the US. In addition, the capital will be used to extend the existing product portfolio and set up production facilities across continents.
About Air up
Founded in 2018 by Lena Jungst, Tim Jager, Jannis Koppitz, Fabian Schlang Simon Nuesch and Christian Hauth, Air up develops the world’s first drinking bottles that flavour pure water by scent alone. The idea was developed five years ago during the bachelor thesis of Lena Jüngst and Tim Jäger. Air Up is based on the idea of retronasal smell i.e. tasting with your nose. Through the power of Pods, the startup transforms still or sparkling water into the taste of cola, peach, and more. It provides a similar flavour without any sugar, calories and additives. The startup claim that its bottles are made of BPA-free Tritan.
What the Founder has to say:
Speaking on occasion, Lena Jüngst, co-founder of air up, said, “We are proud of the renewed trust placed in us by our existing investors. We struck a nerve with our innovative product and almost couldn’t meet the high customer demand. We are happy to prove that with a revolutionary idea and a healthy dose of pragmatism, you can bring about change. It underlines our vision to revolutionise the beverage market worldwide and shows that health and sustainability can also be economically attractive.”
What the Investor has to say:
Niccolo Manzoni, a Managing Partner of Five Seasons Ventures, mentioned, “At Five Seasons Ventures, we back future category leaders in Food Tech. In such a short period of time, air up has delivered exceptional traction in a market where the consumer needs are known to many: more hydration, the reduction of single-use plastic bottles, and increased consumption of healthy drinks. The latest capital raise will fuel the company to expand to a global stage, to make scent-based hydration the new normal.”
Air up’s innovative technology provides it with untapped market potential. Thereby the startup has vast opportunities to expand worldwide.
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