Spindrift, a producer of fizzy soda and sparkling water, has attracted $29.8 million in a funding round, following an SEC filing. The Charlestown, Mass company was started by Bill Creelman and has drawn $70 million in public venture capital funding so far.
Previous investors in the fizzy drink firm include Almanac Insights, KarpReilly, Prolong Ventures, VMG Partners and many more. Spindrift, incorporated in 2010, is up against large players, like the beloved and decades-old LaCroix, another sparkling water brand.
Spindrift distinguishes itself by emphasizing “real fruit” in its drinks. Think cucumbers from Michigan, strawberries from California and Alfonso mangoes from India. A day prior to the filing, Spindrift introduced its pineapple flavor.
Now, it’s worth mentioning that in San Francisco’s Marina district is another fruit-infused direct to consumer brand, sans the bubbles. Hint started in 2005 by Kara Goldin, has raised $26.5 million thus far from The Perkins Fund and Verlinvest to produce naturally flavored fruit-essence water.
At this time, Spindrift raised more than Hint’s total capitalization in a single fell swoop, and both brands, alongside the age-old LaCroix, are synonymous with startup culture and recycling bins.