US energy drink company Lucky Energy has successfully concluded an oversubscribed Series A funding round, raising $11.75 million, with Brand Foundry Ventures leading the investment.
Additional͏͏ contributors͏͏ to͏͏ the͏͏ round͏͏ were͏͏ Imaginary͏͏ Ventures,͏͏ Sapphire͏͏ Sport,͏͏ and͏͏ Sugar͏͏ Capital,͏͏ among͏͏ others.͏͏ With͏͏ this͏͏ latest͏͏ funding,͏͏ the͏͏ company’s͏͏ total͏͏ capital͏͏ raised͏͏ so͏͏ far͏͏ amounts͏͏ to͏͏ $26.5͏͏ million.
Lucky Energy’s͏͏ Growth͏͏ Plans͏͏ and͏͏ Retail͏͏ Expansion:
The͏͏ funds͏͏ will͏͏ be͏͏ allocated͏͏ to͏͏ enhance͏͏ brand͏͏ awareness,͏͏ foster͏͏ strategic͏͏ partnerships,͏͏ and͏͏ expedite͏͏ retail͏͏ growth͏͏ as͏͏ Lucky͏͏ Energy͏͏ aims͏͏ to͏͏ enter͏͏ major͏͏ retailers͏͏ in͏͏ 2025.
This͏͏ comes͏͏ as͏͏ the͏͏ brand͏͏ continues͏͏ to͏͏ expand͏͏ its͏͏ team͏͏ by͏͏ hiring͏͏ multiple͏͏ experts͏͏ from͏͏ the͏͏ energy͏͏ beverage͏͏ industry,͏͏ including͏͏ Hamid͏͏ Saify͏͏ as͏͏ chief͏͏ marketing͏͏ officer,͏͏ who͏͏ previously͏͏ worked͏͏ at͏͏ Liquid͏͏ Death,͏͏ and͏͏ Aaron͏͏ Sorelle͏͏ as͏͏ chief͏͏ growth͏͏ officer,͏͏ formerly͏͏ of͏͏ C4͏͏ Energy.
Continue͏͏ Exploring:͏͏ PepsiCo͏͏ expands͏͏ Celsius͏͏ energy͏͏ drink͏͏ lineup͏͏ with͏͏ two͏͏ new͏͏ flavors
Innovative͏͏ Product͏͏ Offering:
Founded͏͏ by͏͏ Richard͏͏ Laver͏͏ in͏͏ 2023,͏͏ Lucky͏͏ Energy͏͏ offers͏͏ a͏͏ ‘better-for-you’͏͏ energy͏͏ drink͏͏ alternative,͏͏ featuring͏͏ a͏͏ cleaner͏͏ ingredient͏͏ label.͏͏ Its͏͏ formulation͏͏ includes͏͏ maca,͏͏ ginseng,͏͏ beta-alanine,͏͏ taurine,͏͏ and͏͏ caffeine,͏͏ and͏͏ the͏͏ product͏͏ range͏͏ is͏͏ currently͏͏ available͏͏ in͏͏ five͏͏ flavours.
Laver͏͏ stated,͏͏ “When͏͏ I͏͏ founded͏͏ Lucky͏͏ Energy,͏͏ I͏͏ identified͏͏ an͏͏ opportunity͏͏ in͏͏ the͏͏ market͏͏ to͏͏ develop͏͏ a͏͏ ‘less͏͏ is͏͏ more’͏͏ product͏͏ that͏͏ not͏͏ only͏͏ appeals͏͏ to͏͏ today’s͏͏ consumers͏͏ but͏͏ also͏͏ motivates͏͏ our͏͏ community͏͏ to͏͏ persevere͏͏ and͏͏ pursue͏͏ their͏͏ dreams.͏͏ We’ve͏͏ assembled͏͏ a͏͏ team͏͏ of͏͏ industry͏͏ innovators,͏͏ and͏͏ we’re͏͏ making͏͏ a͏͏ significant͏͏ impact͏͏ on͏͏ the͏͏ market͏͏ in͏͏ unprecedented͏͏ ways.”
Andrew͏͏ Mitchell,͏͏ founder͏͏ of͏͏ Brand͏͏ Foundry͏͏ Ventures,͏͏ the͏͏ leading͏͏ investor͏͏ in͏͏ the͏͏ round,͏͏ noted͏͏ that͏͏ ‘clean’͏͏ energy͏͏ drinks͏͏ account͏͏ for͏͏ less͏͏ than͏͏ 10%͏͏ of͏͏ the͏͏ overall͏͏ energy͏͏ drink͏͏ market,͏͏ which͏͏ exceeds͏͏ $100͏͏ billion.͏͏ This͏͏ positions͏͏ Lucky͏͏ Energy͏͏ with͏͏ a͏͏ ‘unique͏͏ value͏͏ proposition’͏͏ within͏͏ the͏͏ category.
Rico͏͏ Mallozzi,͏͏ principal͏͏ at͏͏ investor͏͏ Sapphire͏͏ Sport,͏͏ added,͏͏ “The͏͏ energy͏͏ market͏͏ is͏͏ extensive,͏͏ rapidly͏͏ growing,͏͏ and͏͏ ready͏͏ for͏͏ brand͏͏ and͏͏ product͏͏ innovation.͏͏ With͏͏ the͏͏ leading͏͏ three͏͏ energy͏͏ brands͏͏ being͏͏ over͏͏ 20͏͏ years͏͏ old,͏͏ there͏͏ is͏͏ a͏͏ clear͏͏ demand͏͏ for͏͏ an͏͏ anti-brand͏͏ like͏͏ Lucky͏͏ Energy,͏͏ which͏͏ represents͏͏ positivity͏͏ and͏͏ has͏͏ the͏͏ potential͏͏ to͏͏ resonate͏͏ with͏͏ a͏͏ wide͏͏ range͏͏ of͏͏ consumers.”
