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Beverages Pounds 150k funding helps take soft drink to new markets [Bristol Evening Post (England)](Bristol Evening Post (England) Via Acquire Media NewsEdge) AGROWING soft drinks brand launched by Future Drinks Co has secured further funding, meaning the Bristol-based business has received more than Pounds 1/2 million of investment. Koji, a range of natural spring waters infused with Japanese fruits and botanicals, has received Pounds 150,000 from the Government-backed Angel Co-Fund. The brand is sold in selected Budgens, As Nature Intended, Shepherds, Partridges, Amazon and through bars, cafes, delis, health food outlets and several retailers across the UK. Tim Chater, co-founder of Future Drinks Co, said: "It's great to have more funds in place, and especially from all of our original investors. The growth potential for Koji is huge, given the scrutiny that high-sugar food and drink is under both by consumers and by retailers. Koji offers a healthy, low-sugar alternative that we know appeals to adults in particular. "The soft drinks and health drinks markets are worth more than Pounds 13 billion in the UK, so we know there is a great opportunity here." Mr Chater added that the latest investment in the business meant it could continue to scale up its operations and take the Koji brand into new market sectors. Future Drinks, established in 2010, was built on the market potential Tim and his co-founder Luke Sapsed could see for a natural and low-in-sugar soft drink. Koji was launched in 2012, following a Pounds 350,000 first round by the Angel CoFund, Wren Capital and Arion One. "It was a big investment initially to break into the soft drinks market," said Mr Chater. "You need to make a real impact with the brand and with sales and marketing, as well as needing working capital to secure intellectual property rights and to invest in full-scale production. We've jumped all of those hurdles and done well in our first two years of trading. Now we need to press on." Koji uses a patented technique developed by Tim and Luke that means it retains all the flavour and nutritional properties of the ingredients without large amounts of sugar being added. It is a traditional method that is used in other contexts by the Japanese today to make liquids such as sake and soy sauce. The duo still retain majority ownership of the business, which has its headquarters in Harbury Road. Support on the deal came from Jonathan Poole, a partner with Bristol law firm Temple Bright. Mr Poole said: "This follow-up investment came together well because of the mutual trust between the investors and the management. Tim and Luke are experienced in this sector and now have two successful years behind them with Koji. Put together with the original deal we secured in 2012, more than Pounds 1/2 million has now been put in by investors, so Future Drinks' growth plans are on a really secure footing." Production of Koji is outsourced to Brothers Drinks in Somerset. For more information, visit the website at kojidrinks.com. (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |