Dive Brief:
- After officially launching in January, wellness beverage brand Gorgie has raised $6.5 million in pre-seed funding, according to a Tuesday press release emailed to Retail Dive.
- Gorgie — created by Lively founder Michelle Cordeiro Grant — raised the funds without any formal institution or venture capital partners, instead looking to investors who are “founders and executives with diverse industry backgrounds.” Investors in the pre-seed raise include Gelmart International CEO Yossi Nasser, Briogeo founder and CEO Nancy Twine, entrepreneur Jason Cohen and more.
- The funds will be used to help grow Gorgie’s team and strengthen its focus on retail expansion, distribution, marketing and product innovation.
Dive Insight:
Gorgie’s line of sparkling and caffeinated beverages launched earlier this year with the hopes of disrupting the energy drink category.
“I can't believe it's been less than a year since Michelle and I sat down to discuss Gorgie and figure out a good strategy and a fantastic liquid that would be loved by all,” Cohen — who is Cordeiro Grant’s business partner and formerly worked with brands such as Veggie Straws and SkinnyPop — said in a statement. “Fast forward, the brand we created is on a rocket ship thanks to her leadership and has the right consumer confidence!”
The beverage brand launched into select Whole Foods stores across the northeast region of the U.S. Since then, the company says it has expanded to over 650 retail stores including a nationwide launch at Sprouts Farmers Market on June 1. Gorgie also sells through its own direct-to-consumer website and Amazon.
“We are thrilled to use this new capital to help support our retail expansion plans, so that our community all over the country can find Gorgie nearby, whether at their local grocery store, wellness studio or directly online,” Cordeiro Grant said in a statement.
The beverage is aimed at consumers who want drinks that provide more nutritional or health benefits, with Gorgie containing ingredients such as B6, B12, L-Theanine and biotin.
Not new to creating businesses, Cordeiro Grant previously founded DTC lingerie brand Lively in 2015 with a focus on inclusivity. The brand was sold to lingerie giant Wacoal International four years later for $105 million.
Correction: This story has been updated to reflect the correct number of retail stores the company has expanded to.
