Colorado-based Rowdy Mermaid Kombucha has secured $3.5 million in a Series A funding round, as it looks to grow its product line.
Founded in 2013, Rowdy Mermaid makes a range of “low-sugar”, plant-infused functional kombucha drinks. Flavours include strawberry tonic, savoury peach, and living ginger.
The company said each brew is made with ethically sourced, regenerative organics and undergoes in-house DNA testing to ensure safety and consistency.
Funding will allow the business to research and develop environmentally friendly packaging.
The round was led by KarpReilly, a US private investment firm with a portfolio of emerging brands including Spindrift, KeVita, Zola Coconut Water, and Iconic Protein. Other investors include Justin Gold and Brendan Synnott (co-founder of Bear Naked).
“We love Rowdy Mermaid Kombucha because its function-forward and science-based approach to kombucha stands out in a fast-growing industry,” said Allan Karp, co-founder of KarpReilly.
“We are confident in the tremendous amount of momentum Jamba and his team have received over the past several years in the Rocky Mountain region and we believe the organic harmony between our teams will compel a thoughtful growth strategy moving forward.”
Jamba Dunn, founder and CEO of Rowdy Mermaid Kombucha, added: “This financing allows the Rowdy Mermaid team the opportunity to grow our company and our product line with integrity.
“We believe functional health extends to the environment we live in as well as ourselves. Which is why a big initiative for 2019 will be a switch to clean supply chains and sustainable packaging to increase our presence and offerings while being mindful of environmental concerns – curbing production waste, extending shelf life and increasing the functionality of the product.”
The announcement follows a spike in recent new kombucha launches and investments. In, September, Coca-Cola entered the kombucha market with the acquisition of Organic & Raw Trading Co, which makes the Mojo brand kombucha drinks.
Peet’s Coffee has since bought a majority stake in Revive Kombucha, a craft kombucha brewery based in California.