Dash Water, a British startup producing upcycled sparkling water drinks, has raised GBP 2 million (USD 2.2 million) in funding led by private investors including Patrice Evra (former Manchester United captain), David Milner (food and beverage industry veteran) and David Abrahamovitch. Following the investment deal, Dash Water was reportedly valued at GBP 30 million (USD 40.5 million).
The funds were expected to be used to support Dash Water’s growth in Australia, expand its distribution channels as well as grow its subscribed customer base.
Following the investment, David Milner, the current chief executive of bakery St Pierre, also joined Dash Water as a chairman. David Milner, previously served as chief executive at pet food brand Lily’s Kitchen (selling the brand at a value of GBP 100 million to Nestle), and has worked at senior roles in several food and drink companies. David Milner in his new role is expected to support Dash Water to gain traction on a global scale.
Dash Water reported that its drinks business sales grew 2x during 2021, selling around nine million cans during the year. The company targets to sell over 20 million cans in 2022.
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