Air up raises 18 million euros
The aroma start-up has successfully completed another round of financing. Among the investors is also a big name.
Munich-based start-up Air up has received 18 million euros in investment, Handelsblatt reports. The American beverage manufacturer PepsiCo is also said to have participated with a small share, the founder told the newspaper. Three years ago, Frank Thelen and Ralf Dümmel had also invested in the start-up - outside the show "Die Höhle der Löwen", where both sit on the jury. Just a year ago, the investors injected another 2.3 million euros into the start-up. The main investor at that time was VC OysterBay around Christoph Miller.
Air up manufactures beverage bottles with attachments that emit an aroma. This allows water to be flavored without having to be sweetened. The idea was born five years ago during the bachelor thesis of Lena Jüngst and Tim Jäger. In 2019, the first bottle was presented and launched on the market.
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