California, USA-based provider of shelf-stable, no-sugar beverages, Remedy Drinks, announced the closure of its Series B funding. The company announced the conclusion on February 21, 2023. However, it did not disclose the amount of the financing.
The company’s existing lead investors, L Catterton and Kin Group, led the financing for Series B.
Purpose of financing for Remedy Drinks
With the latest financing from Series B, the company seeks to deploy funds towards focusing on global retail growth. It has plans to capture retail growth via new distribution and retail takeaway.
Meanwhile, Remedy Drinks announced the appointment of a new Chief Customer Officer, Nathan Schy. Nathan seeks to lead rapid expansion across all trade channels and oversee the company’s demand-generation efforts.
The L Catterton and Kin Group investment further accelerates the Remedy Drink’s growth, especially in the U.S. The company expects to quickly surpass 10,000 retail doors in the said region.
What the company’s officials have to add
Chief Customer Officer, Nathan Schy, said, “The kombucha and functional beverage category is very exciting right now, and Remedy Drinks is delivering on consumer preferences and unmet needs of the category. We have a price-accessible portfolio that is disrupting the space. I’m looking forward to driving expansion with our retail partners and consumers in 2023.”
In addition, Jamie Schwartz, Chief Operating Officer at Remedy Drinks, said, “This funding round from our partners at L Catterton and Kin Group will allow us to continue to fuel our global retail expansion with Nathan Schy at the helm. We are emerging quickly in the U.S. market and disrupting the Functional Beverage category with our zero sugar and shelf-stable positioning.”
About the company
Sarah and Emmet Condon launched the company in 2012. Since then, Remedy Drinks has been the market share leader in Australia. Following the global expansion, the company scaled to become the #1 brand in the U.K., the #3 brand in Canada (and fastest growing), and the fastest-growing Kombucha brand in the U.S., both at retail and online.
Its refreshing range of gut-friendly offerings includes six fruit-inspired Kombucha flavours, Mixers, Sparkling ACV, and clean energy drinks. The company’s products are available at 7000 retail doors across the USA.
The company is on a mission to provide healthy beverages that are tasty and convenient and just overall better. Remedy Drinks offers delicious and healthy no, sugar, live-cultured drinks full of organic acids and antioxidants.
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