Lucky Energy has announced the successful completion of a $14.2 million oversubscribed Series A1 funding round, which increases its total funding to over $40 million. This funding round was led by Maveron and included participation from DMG Ventures, Second Sight Ventures, and existing investors such as Imaginary Ventures, Brand Foundry Ventures, Sapphire Ventures, and Sugar Capital. The funds raised will be utilized to enhance the brand’s growth through expanded distribution, new product introductions, strategic partnerships, and recruitment in essential business areas.
The company has appointed Dan Ginsberg, the former CEO of Red Bull NA and Dermalogica, to its Board of Directors. Lucky Energy has reported significant growth, having entered 10,000 new retail locations with plans to reach an additional 15,000 by year-end. The brand has gained over 400,000 followers on social media and offers a range of six flavors, all of which are sugar-free and calorie-free.
Dan Ginsberg commented on the brand’s potential, stating, “In an extremely competitive category, there are very few brands that have what it takes to break through and build consumer-driven success. Lucky is one of those very, very few.” Richard Laver, the founder and CEO, expressed gratitude towards partners for their vision of a healthier future, emphasizing the mission to motivate individuals to thrive. Laver’s personal history, including his survival of a tragic plane crash and subsequent challenges, has influenced the establishment of Lucky Energy, aiming to inspire resilience in others.