USA – Colorado-based kombucha beverage maker, Rowdy Mermaid Kombucha, has closed its second and final tranche of its Series A investment raising an additional US$3.5 million, bringing total proceeds of the investment round to US$7 million.
The investment was again led by KarpReilly, a Greenwich-based private investment firm with a portfolio of emerging brands in the consumer sector, with notable food, beverage and natural products including: Spindrift, LIFEAID, KeVita, Koia, and ICONIC Protein.
Rowdy said that the capital will support its investment into sales and marketing and continued national expansion. The company projects triple-digit sales growth in 2020, as the beverage manufacturer expands into new markets.
The beverage company plans to continue expanding its national retail expansion and introduce an e-commerce platform, with a considerable investment in research and development of additional product lines.
Rowday has unveiled plans of introducing a new flavor, Watermelon Bloom, which will be available on supermarket shelves, including Sprouts Farmers Market and Natural Grocers, in individual 12-ounce cans beginning in June 2020.
“The past year has been an exciting time for all of us at Rowdy Mermaid as we further expand our national footprint and bring new flavors and functions to our product line,” said Jamba Dunn, Founder and CEO of Rowdy Mermaid Kombucha.
“As we continue to dream up new ways to introduce functional beverages to as many people as possible, partners like KarpReilly help us achieve our goal of plant-based medicine from Rowdy in every fridge.”
Commenting on the investment, Allan Karp, co-founder of KarpReilly said: “Year after year, we continue to see innovative products, initiatives and solutions from our friends at Rowdy Mermaid.
“Rowdy’s function-forward flavors, approachable brand, and unwavering passion for product integrity are the key points of difference in an otherwise crowded category.”
With headquarters in Boulder, Colorado, Rowdy Mermaid Kombucha has cultivated a loyal fan base, and has experienced double or triple digit growth every year since being founded in 2013.
Paying homage to kombucha tradition by crafting with creativity and passion, Rowdy Mermaid Kombucha aims at creating flavors centered around the healthful benefits of functional botanicals, roots and mushrooms.
The company prides as the first kombucha company to fully transition to 100% recyclable cans as part of a commitment to cleaner supply chains and more sustainable packaging.