Koji Drinks, a sparkling soft drinks brand, has completed a follow-on funding round of GBP150,000 from the Angel CoFund.
Future Drinks Company, the makers of Koji, who were one of the first companies to receive funding from the government-backed fund back in May 2012, launched Koji Drinks to the grocery trade this month.
This brings the total funding to date to GBP500,000, following a GBP350,000 first round by the Angel CoFund, Wren Capital and Arion One.
The Bristol-based company has developed an innovative production process, unique to Koji, which infuses a complex extract of natural fruits and botanicals into spring water producing a range of soft drinks without the need for adding large amounts of sugar.
The Angel CoFund, a GBP100m government-backed investment fund, worked with angel syndicates to back Future Drinks in their endeavour to remove sugar and sweeteners from the soft drink market. The latest funding will be used to support the re-launch of Koji Drinks and continue the team’s work.
Tim Chater, co-founder of Future Drinks, says: “We’re delighted to be working with the Angel CoFund again. We’ve been trialling Koji Drinks and are excited to be bringing the brand to the wider market. There are various government and industry initiatives such as ‘Action on Sugar’ to reduce amount of sugar in processed foods. This is just one indication of the way attitudes towards sugar are changing. The support from the Angel CoFund has been fantastic for us; the funding and encouragement of our investors has been a driving force over recent years and we look for to continuing this relationship.”
Tim Mills, investment director of the Angel CoFund, says: “Future Drinks were one the fund’s first five investments, and it’s fantastic to see how the angel syndicate has supported the team since. The Angel CoFund is about getting cash to great British businesses that can scale, but also supporting them with more than just money. The skill, drive and passion of the team, along with their own, Japanese inspired, infusion process, really convinced our syndicate that this was an opportunity that could build into a successful brand. We look forward to continuing our work with Koji Drinks over the coming months.”
