Rebbl, the US supplier of organic, coconut-based ‘milk’, has closed another round of funding, in which the business raised US$20m from investors led by CAVU Venture Partners.
The California-based firm, set up in 2011, has its products stocked in 7,000 stores in the US and is looking to use the fresh funds to expand its sales team, boost its marketing and invest in R&D.
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Clayton Christopher, the co-founder and managing partner at Cavu Venture Partners, launched Sweet Leaf Tea and Deep Eddy Vodka before setting up the buy-out house.
Cavu Venture Partners’ previous investments in the food sector, include financial backing for US snacks brand Hippeas and US cottage cheese maker Good Culture.
Christopher said Cavu Venture Partners had “long admired Rebbl not just for its exceptional products, but also for its mission to make a real difference in the world”. Some 2.5% of Rebbl’s net sales is donated to Not For Sale, the US non-profit that campaigns against exploitation.
Christopher added: “[Rebbl’s] seasoned management team spearheaded by CEO Sheryl O’Loughlin and co-founder Palo Hawken know inside and out who they are as a brand. Rebbl has disrupted the functional beverage space while simultaneously highlighting the positive impact an innovative social enterprise can have on our world.”
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