After launching its very first bottle in 2018, LARQ has drummed up a good deal of interest among customers trying to find ways to wean themselves off of plastic bottles. In 2015 alone, the Bay Area-based start-up handled to sell 75,000 bottles, with assistance from retail partners like Nordstrom and Bloomingdale’s. The feat is made more outstanding by the fact that– at $99– the company’s offerings are quite high as far as refillable water bottles go.
LARQ’s value proposal is in its UV cap. As someone who’s brought around a great deal of multiple-use water bottles given that those heady Nalgene days in college, I have actually got some respectable horror stories about the genuine forest of fungus that’s grown inside. Persistent washing can be particularly hard with such a narrow receptacle.
The business’s products have also garnered financial investment interest. Today the business announced a $10 million Series A lead by Seventure, with participation from DCM. The round follows an initial seed fund raised back in June of last year. LARQ’s likewise got a number of crucial shareholders, including Capricorn Investment Group, Heuristic Capital, IdeaFarm Ventures, Augment Ventures and Warriors power forward Draymond Green. The Series A bring the company’s funding to date approximately $15.7 million.
“At LARQ, we are ushering in a new age of hydration that is much better for you and better for the world,” CEO Justin Wang stated in a declaration offered to TechCrunch. “We use consumer-centric item style integrated with cutting edge innovation to make it much easier to opt for the much healthier and more sustainable choice anywhere and anytime. To recognize this vision, LARQ requires to meet the consumer at every opportunity for hydration, from a bottle on-the-go, to the house tap, and whatever in between.”
The LARQ bottle in currently being stocked by 88 sellers in 16 nations, though this round is set to assist it take that worldwide growth even further. Early this month, it targeted at bringing its water cleansing innovation to a Brita-style filter. As of this writing, the project has actually raised more than 13x its $50,000 goal. It was certainly the best item for the business at the minute, as the house market has actually become significantly essential with fewer individuals leaving the house.