A DTC company joins the functional beverage market
In a Series A fundraising round headed by C2 Ventures, direct-to-consumer company Beam, which sells CBD products without THC, raised $6 million.
Obvious Ventures, Camwood Capital, famous athletes Danica Patrick, Kevin Hayes, and Brooks Laich, as well as The Yard Ventures and Litani Ventures, a fund founded by RXBAR creator Peter Rahal, were also involved in the round.
Using the money from the Series A round, the business will launch elevate, a range of hydrating drink mixes, as its first entry into the non-CBD wellness market. The beverage mixes, which are made with potassium bicarbonate, sodium hyaluronate, coconut water, and Himalayan sea salt, are devoid of additives, added sugars, and fillers. There are three types of them, each intended for a certain use case.
Citruline and beetroot powder are added to the watermelon-flavored Performance formula to encourage the building of muscle. In order to improve general endurance, it also includes caffeine and vitamin B. Vitamins D and K are included in the berry-flavored Balance recipe, along with an electrolyte powder that provides vital bacteria and prebiotics to promote a healthy microbiota. Collagen peptides in the lemon-flavored Recovery formula support healthy joints, skin, hair, andnails, along with BCAA to help increase muscle growth, decrease muscle soreness and reduce exercise fatigue.
Co-founders of beam Kevin Moran and Matt Lombardi stated, “Over the past 12 months, a hydration mix has been the most requested product from our community.” “The hydration market was lacking in what our community desired, so we developed a cleaner, more effective product that would benefit the 75% of Americans who suffer from chronic dehydration.”
Elevate beverage mixes come in 30-serving variety packs and 15-serving single flavor packs that may be purchased online. These represent the first of several developments meant to expand beam’s product range into more wellness-related verticals.
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Chris Cunningham, a partner at C2 Ventures, stated, “I joined as an investor because beam is uniquely positioned to captain and create the next wave of the wellness movement.” “I’m excited to announce that beam is creating a new category opportunity with clean labeled hydration supplements and surpassing the CBD category with its innovative approach to CPG innovation.”