Beekeeper Coffee, a US RTD coffee brand, has received investment from a group of NBA players including Draymond Green and Anthony Davis.
The investment size and other financial terms were not disclosed.
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New investors in the brand include NBA players Zach LaVine, Fred VanVleet and De’Aaron Fox.
The funding round also drew in founder and CEO of sports agency Klutch Sports Group Rich Paul, golfer Min Woo Lee, entrepreneur Matthew Pritzker and NFL player Jared Goff.
In a statement, the company said the funding will “fuel Beekeeper’s rapid retail expansion, ongoing product innovation, and culture-forward marketing initiatives”.
Beekeeper also told Just Drinks, its priorities over the next six to 12 months will centre on expanding the business through big-box retailer Target, as well as online and through “the natural grocery channel”.
Its retail footprint also includes Wegmans and The Fresh Market. It also sells online through Thrive Market and Gopuff.
In the statement, investor Rich Paul said: “Beekeeper is addressing a clear open space in the coffee category with a fresh perspective that aligns with the evolving preferences of a younger generation of consumers.
“There’s a significant opportunity in ready-to-drink coffee for a brand that delivers simplicity, quality and culture in equal measure. The team at Beekeeper is well-positioned to lead that growth, and I’m excited to be part of what’s next for the category.”
Beekeeper told Just Drinks it sees there being an “open space” around “building a beverage brand for the next generation (i.e. the fourth wave of coffee consumer) who is primarily seeking lifestyle, community and product innovation”.
The brand’s products are already stocked in more than 2,500 outlets across the US.
Founded in September 2023 by Fara Leff, Paul Rivera, David Creech, Andrew Forbes and Nate Forbes, Beekeeper produces RTD lattes in flavours such as mocha, caramel and hot honey.
It produces its drinks in St. Paul, Minnesota.
