Lucky Energy Closes Oversubscribed Series A, Continues To Defy Odds

Lucky Energy Closes Oversubscribed Series A, Continues To Defy Odds

PR Newswire

AUSTIN, Texas, Sept. 30, 2024

Lucky Energy raises $11.75M to bolster brand awareness through retail expansion, trial, and new leadership hires

AUSTIN, Texas, Sept. 30, 2024 /PRNewswire/ -- Lucky Energy, the simpler, better-for-you energy drink company, today announced the close of their oversubscribed $11.75M Series A led by Brand Foundry Ventures with additional investment from Imaginary Ventures, Sapphire Sport, and Sugar Capital, among others. This brings the total funding raised to date to $26.5M. Already a category disrupter despite launching in late 2023, Lucky Energy continues to defy the odds with their rapid expansion and new leadership hires. The funds will be used to grow brand awareness and trial, support strategic partnerships, and accelerate retail growth as Lucky Energy looks to enter major retailers in 2025.

"In starting Lucky Energy, I saw a white space in the category to create a 'less is more' product that not only entertains today's consumer but inspires our community to never give up and relentlessly chase their dreams," stated CEO and Founder of Lucky Energy, Richard Laver. "We've put together a team of industry disruptors and we're making an impact on the market in never-before-seen ways."

Since its launch, Lucky Energy has seen explosive growth across the industry, selling 2x the category average in retail, and plans to reach over 8,000 doors by end of year. The oversubscribed round comes as Lucky Energy continues to expand its team with industry veterans, including their new Chief Marketing Officer Hamid Saify who joins from Liquid Death and Chief Growth Officer Aaron Sorelle who joins from C4 Energy, in an effort to bring critical insights and expertise into scaling the energy drink brand. Additional hires across marketing, finance, and operations include Jeanette Bustamante (RXBAR), Dustin Canner (Lemon Perfect), Tyler Larkin (Liquid Death), Rudra Persaud (Liquid Death), and Matt Rickert (Liquid Death).

"The energy market is vast, rapidly expanding, and primed for brand and product innovation," said Rico Mallozzi, Principal at Sapphire Sport. "With the top three energy brands being over 20 years old, there is a clear demand for an anti-brand like Lucky Energy, which embodies positivity and has the potential for broad consumer appeal. We are excited to partner with Lucky Energy as they build and scale their unique brand, and we look forward to supporting them not only as investors but also through Sapphire Sport's iconic network of sports, media, and entertainment LPs."

Founded by beverage entrepreneur Richard Laver in 2023, Lucky Energy contains simpler ingredients than competitors and is available in 5 flavors with 5 super ingredients (Maca, Ginseng, Beta-Alanine, Taurine, Caffeine). In taking a rebellious approach to spreading luck through out-of-the-box content, consumer rewards, merchandising, and product launches, Lucky Energy empowers its growing squad of loyalists to take risks and live life to the fullest, and it's not stopping any time soon.

"Clean energy makes up less than 10% of the broader $100B+ energy drink category today," said Andrew Mitchell, Founder of Brand Foundry Ventures. "We believe that Lucky Energy has a clear opportunity to be a major market driver with its unique value proposition. It has attracted talent from the hottest beverage brands and is transforming how consumers experience energy drinks. BFV is thrilled to lead this investment in Lucky Energy, the next iconic energy brand."

To learn more about Lucky Energy, visit www.luckybevco.com and follow on social media @luckyfckenergy.

About Lucky Energy
Lucky Energy is a simpler, better-for-you energy drink company founded by serial beverage entrepreneur Richard Laver. Richard Laver founded Lucky Energy to inspire people to persevere and keep going as he learned to do. The youngest survivor of Delta flight 191 flight that killed his father and 136 others, and the founder of Kate Farms (now the #1 recommended plant-based tube-feeding formula), Laver was inspired to create a cleaner alternative to the energy drinks on the market. The brand creates high-quality products to motivate people to keep going and inspire lucky moments.

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SOURCE Lucky Beverage Company