Cirkul, a beverage technology company, raised $30 million in a Series B round this week according to a press release sent to The Spoon. The round was led by AF Ventures and also saw participation from SC.Holdings, Siddhi Capital, and several other private investors. This brings the Cirkul’s total funding to $41.6 million.
Founded in 2018, Cirkul produces flavor cartridges that can be inserted into its patented water bottles to create a customized drink. Once the cartridges are inserted into the top of the bottle, the consumer can adjust the amount of flavor that is released during each sip. By adding flavor to water, the company’s goal is to encourage people to stay hydrated. The flavors, created from added “natural flavors” range from different fruits to coffee, and some include added electrolytes, vitamins, and other nutrients.
Cirkul’s objective is to offer a wide variety of beverage options while simultaneously reducing the shipping weight, costs, and materials used by beverages packaged in plastic bottles. It is still very common for Americans to drink bottled water and beverages, but there are a plethora of environmental issues associated with plastic packaging. The production of plastic bottles releases harmful pollutants into the air, and unfortunately, more bottles end up in the landfill than at recycling centers. In the landfill, these bottles can take hundreds of years to decompose.
It is estimated that 75 percent of all Americans are chronically dehydrated, so it’s no surprise that tech companies are focused on finding solutions to this. Elkay launched the Smartwell Touchless Countertop Beverage Dispenser earlier this year, a countertop beverage dispenser with 70 custom flavor options to encourage hydration. This past March, Pani launched a crowdfunding campaign for its water filter that also allows the user to add in different flavors.
Cirkul will use this most recent round of funding to accelerate its growth plan and focus on innovation in its product lines. The company’s bottles and cartridges are available as a one-time purchase or as an auto-ship plan on its website.