Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Specialized Packaging
Beverage Products
Return to: PKBR Home | Specialized Packaging | Beverage Products

Kona Deep secures $5.5m in financing

PKBR Staff Writer Published 24 November 2017

Hawaiian bottled water firm Kona Deep has secured $5.5m in a financing round with the participation of Danone Manifesto Ventures alongside Grand Crossing Capital.

The company plans to use the investment to support its growth initiatives by extending distribution, increasing and optimizing production capacity and increasing awareness of its deep ocean water.

Kona Deep is creating a new category of premium water with its deep ocean water, sourced 3,000 feet below ocean surface in Kona, Hawaii from a pure source with natural minerals. The company did not use any additives during the process

When the water is brought to the surface, it is desalinated and bottled at the source in Kona. This process is claimed to retain the natural minerals and electrolytes, while offering a balanced production of hydration and taste.

Kona Deep CEO Patrick Turpin said: “As we develop this new category of deep ocean water we are excited to partner with Danone Manifesto Ventures and expand our relationship with Grand Crossing Capital.

“Danone Manifesto Ventures is part of a group that has significant expertise with premium water brands globally, is aligned with our core values, and is focused on a business sustainability agenda, making them a great partner for Kona Deep.

“We look forward to working together to execute on our growth initiatives and provide consumers with great-tasting, sustainable and natural bottled water with real hydration benefits.”

Danone Manifesto Ventures is a unit of Danone and was created last year to invest in early stage food and beverage and food technology companies. Investment in Kona Deep is Danone Manifesto Ventures’ fifth since inception.

Danone Manifesto Ventures managing director Laurent Marcel 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.”