Beverage and supplement startup Neutonic has raised $3.7m (£2.7m) in its first funding round, including investment from Grenade founder Alan Barratt.
Personal trainer James Smith and podcaster Chris Williamson launched the London-headquartered brand in the UK and US in late 2023, alongside manager Luke Betts and Shan Hanif, the CEO of marketing agency Genflow.
Neutonic has positioned its range of drinks, nootropics sachets and capsules as “a mindful alternative to coffee and energy drinks”.
Sales have hit $10m so far, with more than three million cans sold since launch and a number one position on Amazon in the energy and grocery categories.
Neutonic said with the new funding in place it was “primed for unprecedented growth in the months ahead”.
The funding round, which values the company at $20m, will support Neutonic as it moves into the next phase of expansion, with plans to scale the workforce with strategic hires in 2025 to help drive growth and distribution.
Neutonic is aiming to expand its retail presence across the UK and US, and appoint regional leads to spearhead further international launches.
“This investment provides the momentum needed to bring our ambitions for Neutonic to life,” said co-founder James Smith, who has built a following of 3.4 million people with an evidence-based approach to fitness.
“We’ve had a clear vision from the outset and closing this funding round marks a significant milestone in reaching the next phase of our growth. We’re excited to expand into new markets and strengthen our presence in retail.”
Alan Barratt, who sold Grenade to Cadbury owner Mondelez in 2021, added: “After 30 years in business, I’d like to think I can spot great founders when I see them.
“I’ve known Chris and James since 2019, and we’ve always shared a passion for health and fitness, entrepreneurship, and developing great products that consumers can trust. I’m so proud to have had the opportunity to invest in Neutonic, and excited to see what the future holds for this world-class brand and team.”
Neutonic has an “extensive” pipeline of new products set for launch, including new powder and can flavours coming this summer.
Other investors alongside Barratt included Contrarian Thinking founder Codie Sanchez, SaaS expert Dan Martell, fitness entrepreneur Mike Thurston, Gym King founder Jay Parker, and JDI Investments.
No comments yet