Dash Water has secured just under £9 million in its latest round of funding to help the brand shake up the soft drinks category and fuel its expansion into Europe.
The UK’s leading seltzer brand, known for infusing wonky fruit in its drinks, is listed in more than 10,000 stores globally.
The round was led by transatlantic investors Beringea, which has previously backed Monica Vinader, Lucky Saint, and Papier. New investors who took part included Beavertown, former Manchester United footballer Patrice Evra, Ireland’s rugby captain Johnny Sexton, and David Milner, DASH’s chairman and former CEO of Tyrells.
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The funding will be used to support Dash’s growth and expansion plans, including boosting production and distribution, and investing in research and development.
The B-Corp certified company currently leads the UK seltzer category with a 39% share of value sales – made even more significant with experts projecting the category to be worth more than £290 million by 2025.
The zero-sugar and zero-calorie company also plans to expand into new markets across Europe, and to increase its presence in Australia, where it has a growing market share.
Its products are listed in Tesco, Sainsbury’s, Waitrose, Starbucks, British Airways and more, with 61% of all sales coming through online channels.
DASH has gained a loyal following among health-conscious consumers, including high-profile names such as David and Victoria Beckham, who are looking for tasty, sustainable alternatives to traditional sugary sodas.
“This is a big moment for DASH. This latest investment gives us the firepower we need to change the way people look at soft drinks for good,” Dash co-founder, Alex Wright said.
He added: “It’s clear that people want a genuine alternative to the sugary soft drink, one that’s healthy and uncompromising on taste. But until now, there’s been no other option.
“It’s brilliant to welcome big hitters who share our vision, and want to join us on the next part of the DASH journey. From Beringea’s team, to international sports stars, it’s amazing to see how many people believe in using wonky fruit to create delicious, healthy drinks.”
Luke Edis, Investment Manager at Beringea, also commented: “Beringea sees tremendous potential in DASH. While seltzer is a multibillion-dollar industry in the US, it is a product that has vast potential for growth in the UK and Europe.
“As the UK’s leading seltzer, DASH is driving the rise of this increasingly valuable category. Its sustainable product, using wonky fruit and veg to reduce food waste, is resonating with consumers looking for a healthy, flavourful drink and we believe it can go from strength to strength across the UK and into Europe.”
Over summer last year, Dash kicked off a highly successful viral marketing campaign to increase awareness of wonky fruit, which reached over three million people across social media in under two days.
