US prebiotic soda brand Poppi has raised $25 million in financing led by consumer-focused investment firm, Cavu Consumer Partners.
Based in Austin, Texas, Poppi offers a range of sodas that combine fruit, apple cider vinegar and inulin prebiotics and aim to support gut health. The beverages are formulated with clean ingredients, with each can containing less than 5g of sugar and 25 calories.
Poppi says that it is investing in establishing a “best-in-class” executive team, with new high-level appointments. The capital will also be used to further fuel sales growth, marketing and product innovation. The brand plans to expand distribution, with the aim of being in over 30,000 retail stores across the US by the end of 2023.
Poppi co-founder, Allison Ellsworth, said: “I would have never imagined that what started as a homemade remedy for my chronic health conditions would go from the farmers market to Shark Tank, and now to some of the biggest retailers nationwide. The growth we’ve experienced these past two years is a testament to the demand for functional products that taste good and do our bodies good.”
Rohan Oza, co-founder and managing partner at Cavu Consumer Partners, added: “Poppi is one of the fastest-growing beverage brands I’ve ever been a part of. Seeing what Stephen and Allison have done to date has been incredible, and with a seasoned leadership team now in place, we believe Poppi will continue its meteoric growth, cementing [its] position as the modern soda of tomorrow.”
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