Lucky Energy raises $25m to support further US expansion

US-based vigor portion start-up Lucky Energy has raised $25m successful its latest Series B backing round.

The circular was led by backstage equity steadfast Paine Schwartz Partners, which owns the Californian juices marque Suja Life.

Existing investors alongside caller backers specified arsenic task superior steadfast Joyance Partners and household offices North Fifth Services and Sequel besides participated successful the round.

In a statement, Luck Energy said the superior injection volition “fuel” its maturation successful the US.

The institution volition usage the funds to enactment its retail enlargement and bolster nationalist and determination "partnerships". It said the wealth volition besides spell towards hiring and "increasing selling efforts".

Lucky Energy is presently disposable successful much than 15,000 US retail locations and plans to grow into Walmart, Sheetz and Cumberland Farms stores passim the state adjacent month.

The radical told Just Drinks it is expecting to beryllium sold successful astir 35,000 retail locations adjacent year.

Its portfolio features a scope of flavoured sugar-free vigor drinks. Its SKUs see Son of a Peach, Orange Drizzle, Red Ryder Punch, and Bodacious Berry.

Though the US remains its superior focus, Lucky Energy told Just Drinks it is starting to trial “select” planetary markets.

“We’re gathering the institution with a dual-path strategy successful mind. The planetary vigor portion marketplace is simply a $100bn opportunity, and due to the fact that the marque already resonates powerfully successful territories similar Puerto Rico and the US, we’re exploring wherever other that momentum tin translate.”

The institution said it besides has plans to caput to Jamaica.

Alongside the caller investment, Lucky Energy has besides added Paine Schwartz Partners operating directors, James Brennan and Bob DeBorde, to its board.

Brennan is the laminitis and CEO of task steadfast Enlightened Brand Ventures, portion DeBorde is the president of Suja Life and earthy supplements shaper Promix Nutrition. Lucky Energy's committee already features Dan Ginsberg, erstwhile CEO of Red Bull North America.

“By combining large sensation with clean, functional ingredients, the marque is positioned to pb the adjacent question of maturation successful the category,” DeBorde said.

The latest fundraise brings Lucky Energy's full magnitude raised to day to $63m.

In June, Lucky Energy Drinks secured a “six-figure” concern from backstage equity steadfast InvestBev, which the drinks steadfast said fits its program to grow into “fast-growing” non-alcoholic categories.

This followed its $14.2m rise successful March, led by task superior steadfast Maveron and saw the information of DMG Ventures, a VC money backed by UK media radical Daily Mail and General Trust.