Just four months after landing $2.5 million in funding, Durham-based Mati Energy has raised another round of the same value. The $2.5 million in new cash will bankroll the healthy energy drink’s ongoing expansion plans, and help fuel new ones.
By the end of 2017, Mati is projecting to triple store count, double shelf presence, and expand its product line by up to six flavors. New packaging design is in the works too.
The Series A2 financing includes 58 investors, according to the SEC filing. Some of Mati’s existing investors are included, along with new ones such as the statewide Venture Capital Multiplier Fund managed by Hatteras Venture Partners, Triangle-based Harbright Ventures, and the University of North Carolina’s Carolina Angel Network. The startup also added two seasoned entrepreneurs and investors to its board.
In a statement, Mati Founder and CEO Tatiana Birgisson says the latest capital raise “gives us the ability to take our marketing to the next level with an exciting brand experience and increased consumer interactions. We have been building momentum in the Southeast and can’t wait for more consumers to experience MATI as we expand distribution.”
The latest round brings Mati’s total to around $8 million since the company began in 2012.
Flip through the timeline below to track its journey over the years to now.