XOXO Soda announces the close of their latest fundraiser to launch a new generation of healthy sodas in the UK.
With over £4 million raised to date, the new investment marks JamJar’s inaugural venture into the soft drinks market since selling their brand Innocent to Coca-Cola.
The capital will be deployed to fuel growth and enhance the brand’s product offer across UK shelves.
Officially launched in May 2023, XOXO Soda’s exponential growth – driven by consumer demand – has seen the product stocked across 4500+ stores in Europe and the UK, including Albert Heijn, the Rewe Group, Spar, Whole Foods, Mpreis, Zapp, Mr. Lemonade and Brakes.
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In less than a year since its official launch, the brand is on track to sell approximately 250,000 cans in June 2024 alone and will be debuting across major UK retail stores in the autumn of this year.
Having attracted major strategic investment along the way, XOXO’s cohort of investors features top-tier VCs including JamJar, Döhler Ventures, GGF Ventures, Gfund and The Revery Group and several influential FMCG founders.
Commenting on the investment, Richard Reed, Co-Founder of JamJar, said: “We’ve looked at nearly every soft drinks brand since we sold innocent 13 years ago and XOXO is the first we have invested in due to their incredible growth and potential to disrupt this giant category.”
Rory Paterson, CEO and Co-Founder of XOXO Soda commented: “The significant demand for XOXO Soda has affirmed our belief that the market was ready for a new drink that resonates with a type of new consumer.
We are excited that our brand is already disrupting the legacy soft drinks market – which has been complacent for too long. The reception both in the UK and across wider Europe has far exceeded our wildest expectations, and the latest fundraiser will help us further scale this vision.
Our commitment to quality and innovation has resonated with investors, not least from JamJar, and makes the team very excited for what’s to come next for XOXO Soda.”
