Angel CoFund backs further £150,000 in soft drinks brand Future Drinks Co
Follow-on funding to support launch of “healthy, low sugar” product KOJI
Bristol based drinks start-up Future Drinks Co, has announced a £150,000 follow-on round from government-backed fund the Angel CoFund for its new line KOJI Drinks.
The investment takes the total funding in the soft drinks brand to £500,000 following a seed round led by the Angel CoFund, Wren Capital and Arion One in May 2012.
Founded in 2010, Future Drinks says it has developed an “innovative production process” which “infuses” extracts of natural fruits and botanicals into spring water to produce the KOJI range of low-sugar “healthy” sparkling soft drinks.
It plans to use the finance, said to be in response to the government’s campaign to reduce sugar consumption, to support its UK launch and continue its work to remove sugar and sweeteners from the soft drinks markets.
Tim Chater, co-founder of Future Drinks, commented on the launch:“We’re delighted to be working with the Angel CoFund again.
“We’ve been trialling Koji Drinks and are excited to be bringing the brand to the wider market. There are various Government and industry initiatives such as ‘Action on Sugar’ to reduce amount of sugar in processed foods.
“This is just one indication of the way attitudes towards sugar are changing.”
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Angel CoFund investment director, Tim Mills, continued: “Future Drinks were one the fund’s first five investments, and it’s fantastic to see how the angel syndicate has supported the team since.
“The skill, drive and passion of the team, along with their own, Japanese inspired, infusion process, really convinced our syndicate that this was an opportunity that could build into a successful brand.”