Herb-infused coconut milk Rebbl raises $20 million from Cavu Venture Partners [CNBC]
PepsiCo, Inc. (PEP)
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Source: CNBC
Rebbl, which makes coconut milk-based drinks with herbs and plants, is raising $20 million in funding led by Cavu Venture Partners, the brand said ahead of a formal announcement Friday. Rebbl says it has $20 million to $50 million in annual sales and expects to be growing at a rate of 70 percent by the end of the year. The new fundraising values it at close to $100 million. The company was founded by Sheryl O'Loughlin, former CEO of Clif Bar and Plum Organics baby food, and venture capitalist David Batstone. The drink uses super-herbs and adaptagens, which Rebbl claims have benefits including a decrease in stress hormones. It makes elixirs like its Matcha Latte and cold-brew coffees with protein that promise to provide energy. That puts them into a new generation of drinks that call themselves functional, often low or no-sugar beverages that purport to nourish better than the previous class of sugary or caffeine-fueled sports drinks. Among them is a rush of new kom
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