VIENNA, AUSTRIA — Hydration company waterdrop has closed a A$60 million ($70 million) Series B financing round to further accelerate a global expansion as well as continuous R&D investment.
The brand was founded in 2016 by Martin Murray, Henry Murray and Christoph Hermann to inspire consumers to drink more water while tackling the environmental footprint of the conventional bottled water industry. The company claims to have replaced up to 30 million plastic bottles to date since entering the market.
Last fall, the company entered the United States with its “microdrinks,” which are sugar-free, low-calorie cubes formulated with botanical extracts. Each microdrink uses 98% less plastic and carbon dioxide emissions than a standard bottle of water, according to the company. Varieties include Focus, which has vitamins C, B1 and B5, plus lime, acerola and green coffee; Love, with vitamins B6 and C, thiamin, potassium, pomegranate, goji berry and acerola; Glow, featuring vitamins B1, E and C, mango, cactus fruit and artichoke; Boost, with vitamins B6, B12 and C, plus blackcurrant, elderflower and acai; Youth, which has vitamins C, B12 and B3, peach, ginger, ginseng and aloe vera; and Zen, with vitamins B1, C and biotin, star fruit, thyme and lemongrass.
The financing round was led by Singapore-based global investment firm Temasek, which has a net portfolio value of approximately $283 billion.
Additional investors include Bitburger Ventures and Founders Future.“Our approach to the water business is to develop ecological solutions to promote responsible consumption of tap water and avoid the outdated idea of having to bottle and ship unsustainable and mostly unhealthy beverages,” said Martin Murray, founder and chief executive officer of waterdrop. “Today, sustainability is not a privilege: it is a requirement. It’s encouraging to align with one of the world’s leading investment firms on our vision for a new revolutionary era in the beverage industry.”