US-based tart cherry juice producer Cheribundi has raised $15m in a funding round led by Emil Capital Partners, the investment firm funded by retail group Tengelmann, Forbes has reported.
Cheribundi provides a tart cherry juice designed to aid in the recovery process for athletes. The company’s juicing process was developed in partnership with a research team at Cornell University, which claims it retains the maximum amount of nutrients.
Emil Capital has installed a new executive team to manage Cheribundi, Emil Capital managing partner and COO Marcel Bens told Forbes. The company will be focused on customer acquisition and retention going forward, he added.
Emil Capital had previously led a $4.5m equity round for Cheribundi in 2012, with participation from existing investors including venture capital firm Cayuga Venture Fund.
Cheribundi raised $21.1m from three investors according to a June 2020 regulatory filing, following on from a $9.3m round in 2017, as indicated by a separate filing. It had also eceived $1.9m from two unnamed investors in 2014.