A-list celebrities invest in Koia ahead of a Series B financing.
A group of well-known figures from professional sports and entertainment has closed a bridge round of funding for the plant-based nutrition beverage firm Koia. The additional funding will help with both retail growth and product innovation.
Koia, a company founded in 2014, provides a selection of protein shakes and smoothies that are ready to drink and free of gluten, dairy, and soy. 17,000 locations across the country, including Whole Foods Market, Target, Walmart, and 7-Eleven, sell the products. According to the firm, this particular brand is one of the fastest-growing refrigerated beverage options available on Instacart. According to Koia, this fresh funding brings the record-breaking year’s retail sales of around $60 million to a close. This represents 100% year-over-year growth and a 400% increase in sales over the previous three years.
“As we continue to build this company and break ground in the beverage industry, we are thrilled for this incredibly talented and diverse group of investors to be part of our Koia family,” said Christopher Hunter, co-founder and chief executive officer of Koia. “Their voices and perspectives are meaningful in the conversation around health and nutrition, and they share our collective passion for creating better access to health. Their support is a testament to the power of the better-for-you product and plant-based movement.”
You may also like:
Food security in emerging nations: issues and remedies
Are drinks the secret to increasing cannabis use among consumers?
Managing the lack of labour for mushroom picking
Celebrity investors include The Weeknd, Kevin Hart and his trainer Ron “Boss Everline, Kyler Murray, Ryan O’Reilly, Josh Bell, Cordae, Internet Money and Pink Sweats. Also contributing to the round were Karpreilly, AF Ventures, Monogram Capital and CircleUp. The round will lead to a larger Series B funding this summer, according to the company.
Mr. Paul, professional basketball player, previously teamed with Koia as an investor and partner, introducing a vending machine program serving Historically Black Colleges and Universities and donating 50,000 bottles of Koia to GoPuff customers nationally.
“I can see how committed Koia is to building a successful business and helping people lead healthier lives after working closely with them for the past few months,” the man stated. We have even greater potential to provide underprivileged communities with access and opportunities now that a new group of friends and investors have joined the Koia Krew.