PATH, a US-based sustainable bottled water brand, has announced its $30m Series A Fundraise, which will fuel the company in its rapid expansion across the country and globally.
The funding round is led by Altos Ventures alongside Blue Investment Group; HartBeat Ventures, Kevin Hart’s venture fund; Ryan Seacrest; Guy Fieri; and Ninja, among others.
Since its launch in 2015, PATH says it has forged the path in the refillable packaging revolution, encouraging consumers to #refillit™ with their 100% refillable aluminium water bottles. PATH is on a journey to bring the plastic crisis to the forefront, teaching others to protect the environment and provide options to reduce and reuse.
The new funding will help PATH scale its production and expand its reach.
PATH recently expanded its production on the East Coast with new production lines running in a state-of-the-art manufacturing facility in North Carolina, allowing the company to meet the high demand for PATH products nationwide.
The company will also look to increase its brand ambassador program and other unique partnerships to encourage consumers across the nation to #refillit™.
“We are excited to partner with Altos Ventures. This partnership brings the beverage industry and Silicon Valley together to usher in a new era of bottled water. This funding will accelerate our mission to bring the plastic crisis to the forefront and create a scalable platform for sustainability,” said PATH Co-Founder & CEO Shadi Bakour.
The Series A funding will also allow PATH to achieve its goal of being more than just a water bottle brand, but a company that has an end-to-end solution for the sustainability crisis around the world. By partnering with companies that have like-minded missions such as Altos Ventures, the company’s largest investor to-date, PATH is able to set the next phase of their global expansion into motion.
“At Altos, we strive to lead by example by integrating sustainability in our investment and business practices. We hope that our partnership with PATH will encourage other organisations to follow in our footsteps,” added Ho Nam, Managing Director and Co-Founder of Altos Ventures.
As part of the Series A funding, PATH has recently announced distribution deals with major retailers including CVS, Costco Business Centers, 7/11, and Walmart. Top retail partners of PATH include Whole Foods Market, Sprouts, Rite Aid, Circle K, Wegmans, and more.
