Eco-Friendly Smart Water Cooler Company Bevi Announces $70M Series D From Cowen Sustainable Investments
Gunderson Dettmer represented Boston-based client Bevi, the market leader in smart water coolers, in the announcement of its $70 million Series D financing from sustainability-focused investment platform, Cowen Sustainable Investments. Bevi’s smart water coolers allow users to customize drinks, access nutritional information, and are an environmentally sustainable alternative to bottled water and flavored seltzer. The new capital will be used to support the company’s growth and expansion into new products.
In the announcement of the transaction, Co-Founder and CEO of Bevi Sean Grundy said, “Our purpose at Bevi is to transform beverages from one of the most wasteful industries on the planet to one of the most sustainable. We are driving the transition from an antiquated supply chain built around single-use plastic bottles to a network of smart machines that purify tap water and perfectly formulate beverages at the point of use. To realize our vision at scale, we need to build out groundbreaking infrastructure, optimize systems to manage this infrastructure and grow Bevi into a household name. Through the investment from Cowen Sustainable Investments we are now sufficiently capitalized to make this happen.”
The Gunderson Dettmer deal team was led by Rich Hesp and included Laura Stoffel, Sandra Lucero, Marna Pattaropong, and Beatrice Igne-Bianchi.