US-based bottled water producer Kona Deep Corporation raised $5.5m from investors including Danone Manifesto Ventures, the corporate venturing arm of packaged food provider Danone, on Tuesday.
The round also featured private equity firm Grand Crossing Capital and local investors from the state of Hawaii where Kona Deep is headquartered.
Founded in 2015, Kona Deep provides bottled water sourced from the ocean at depths of 3,000 feet which is then desalinated. The startup claims the combination of cold temperatures, high pressure and natural minerals makes the water of a particularly high quality.
Laurent Marcel, managing director of Danone Manifesto Ventures, said: “Kona Deep is a great strategic fit for Danone Manifesto Ventures, creating a new water category with a strong focus on taste, hydration and sustainability and supported by a highly talented management team.
“Kona Deep’s premium water has very attractive growth potential with consumers seeking great tasting water products with compelling hydration benefits.”
The deal is the fifth in which Danone Manifesto Ventures has participated since it was founded in September 2016, following investments in organic baby food developer Yooji, dessert maker Michel et Augustin, fresh food vending machine supplier Farmers Fridge and VC fund AccelFoods.
– Photo courtesy of Kona Deep via Twitter.