Plant-based protein drink company Après receives $1.1mn in seed funding
Launched in November...
US beverage company Après has said that it has received $1.1mn in a seed series fundraising round led by Rocana Venture Partners.
Launched in November 2017, the firm sells plant-based protein drinks using ingredients such as pea, chia, cacao and hemp.
Après said that sales were 50% higher than expected and that the funding round was needed to facilitate this demand.
The funding will be used to restock its current product range and develop a new line of options in the near future.
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"We've focused on building real relationships with our customers, both online and off, to inform our strategy and develop a community around the Après brand," said Après co-founder Sonny McCracken.
"It's still early, but we're seeing some strong signals that we're headed in the right direction. With the recent raise, we can use the proceeds to build on our early successes and amplify our growth."
Sumesh Sachar, managing partner and founder of Rocana Capital, added: “Rocana’s investment philosophy is to support next-generation CPG brands that are effectively engaging consumers as we continue to see a rapid movement towards better living.
“Après embodies our philosophies perfectly with a clean and nutritious product for the modern on-the-go consumer. Equally as important, Sonny and Darby have the combined skill set for building a brand that they live and breathe with the type of never-ending passion and drive that we look for in our founders.”
Coca-Cola sales soar as the world remerges
Now that the hospitality world is opening up again, Coca-Cola has risen in the second quarter, as the non-alcoholic beverage of choice for those dining out.
Coca-Cola, casually known just as Coke, is a beverage which needs no introduction. Its signature shade of red identifies the product - sold in every country in the world, except for Cuba and North Korea. The company was founded in 1886 and remains headquartered in Georgia, USA, where the beverage has a revenue of $37b.
Coca-Cola’s revenue rises
Coke shares rose 2.3% on Wednesday morning in New York and the stock was up 1.8% this year.
The beverage giant believes that this is sure proof that consumers who were confined to their homes for months reduced their consumption of Coca-Cola while at home.
But now consumers are allowed to return to a level of normality, they are celebrating with their favourite chilled beverage - especially those who caught Coronavirus and suffered the loss of taste and smell.
Coca-Cola’s enduring popularity
The staff at Coca-Cola are thrilled, but not surprised, to discover that consumer tastes have not changed over the pandemic.
“Our results in the second quarter show how our business is rebounding faster than the overall economic recovery”, said James Quincey, Coca-Cola’s Chief Executive Officer. The company in particular cited a rebound in “away-from-home channels” as pandemic restrictions eased, sending sales above 2019 levels.
Coca-Cola also noted the unit case volume grew, covering:
- 17% in North America
- 21% in the Europe, Middle East and Africa region