XOXO, the UK’s first prebiotic soda brand, has secured additional funding of £1.5m from investors such as Nextblue and APX ventures.
Founded in October 2022 by Rory Paterson and Nick Janssen, the brand is growing rapidly with listings in over 1,600 stores, including REWE in Europe, Planet Organic, Wholefoods, Zapp, Equinox Gyms, Eat 17, and Urban Outfitters.
Within six months of launch, XOXO hit sales of over 60,000 units a month with a monthly turnover of £100K. The brand expects this to grow significantly in the next 18 months.
The investment will be used to grow the brand’s team, build on the product distribution in the UK and Europe and continue to grow the range, which currently consists of Watermelon, Orange and Ginger & Lemon. XOXO is plant-based, low in sugar & calories, with each can having 8g of prebiotic fibre.
Co-founder & CEO Rory Paterson commented: “Since launching the business nine short months ago, the interest from both customers and consumers has been nothing short of incredible. Last month we sold over 60,000 cans and had some of the highest rate-of-sale figures our customers have ever seen for a start-up. With the funding, we can now continue to build our team as we look to grow this new category in soft drinks geared towards younger generations, who love our brand messaging, bold flavours as well as health benefits.”
NAM Implications:
- Given that Prebiotics are believed to be vital for:
- Gut and digestive health
- Supporting your immune system
- Maintaining bone health
- It follows that Prebiotics drinks have a potential advantage over conventional sodas.
- Anticipate some competitive reaction in the category…
