Toronto-based beverage system developer Bonne O Holdings has announced it has closed on the final tranche of its $7.5 million in Series B financing.
The funding has enabled the development and launch of Spärkel, a sparkling beverage system that infuses real ingredients and bubbles into drinks without a CO2 tank.
Bonne O describes the product as “a sophisticated alternative” to traditional CO2 tank systems, allowing consumers to put the fizz into beverages in as little as 90 seconds. A formulation of citric acid and sodium bicarbonate generates CO2 gas naturally when mixed with water.
The company said the machine can be used for beverages such as juice, tea, water, cocktails and wine.
Spärkel is available for presale now on Indiegogo and a full launch is planned for this summer. Bonne O will use a portion of the funding to accelerate its marketing efforts and to expand distribution.
Darren Hatherell, president and co-founder of Bonne O, said: “Spärkel’s mission is to enable everyone to create healthy, delicious and fun beverages. By infusing real, fresh ingredients and bubbles at the touch of a button, everyone can easily create an unlimited range of drinks. This funding will allow us to scale the company as we serve thirsty, creative people everywhere.”
The round was led by NY Group Partners in the US with participation from new and existing investors, including Radar Capital of Toronto.
“People everywhere are seeking healthier hydration without giving up taste,” said Radar Capital president Mark Lerohl. “The challenge is that flavoured carbonated water uses synthesised chemicals to flavour the drink. People that are looking for healthier alternatives are the same people that value natural, real ingredients.
“Spärkel is a perfect fit for consumers that are seeking healthier hydration because it brings real ingredients to beverages. You can sparkle everything from pure water, to sparkling fruit infusions, to mimosas and bubbly cocktails. Plus, you don’t need to carry heavy cans and bottles home anymore – or return old, clunky CO2 tanks to the store.”