Uniseed Investee PERKii raises $3m to launch probiotic drink technology in the US | Uniseed
Summary
Uniseed Investee PERKii raises $3m to launch probiotic drink technology in the USAustralian foodtech start-up PERKii raises $3m to launch probiotic drink technology in the USUniversity of Queensland start-up to take on global Better-For-You beverage market Follow on investment of an additional $1m from Advance Queensland Business Development FundBrisbane, Australia 21 November 2018 PERKii Pty Ltd, an Australian start-up using innovative technology to produce the worlds first water and juice encapsulated probiotic drink, has announced the completion of a $3m capital raise led by Australias longest running research commercialisation fund, Uniseed.The funds secured from Uniseed-managed investors ($1.51m), angel investors and high net worth individuals ($574k), and the Advance Queensland Business Development Fund ($1m) will drive PERKiis continued rapid local market expansion and establish production of the Companys technology in the US, where it will take on a combined ANZ, US and Asia market worth US$21.8 billion. ProGel\xae is a ground-breaking, research-led innovation that addresses a clear market need.As the popularity of high-sugar, carbonated soft drinks continue to decline, were seeing a strong local appetite for Better-For-You beverages, such as PERKiis range, using ProGel\xae technology. Weve chosen a globally-recognised strain of probiotic shown to enhance immune response, digestive health and improve recovery time from cold and flu symptoms. However, the technology can be applied to any probiotic.Queenslands Deputy Premier and Treasurer Jackie Trad said that supporting emerging companies through the $80 million Business Development Fund (BDF) underpins the Governments commitment to growing jobs and strengthen the States entrepreneurial ecosystem. Derived from the ProGel\xae technology, also invented at the University of Queensland, this drink protects and improves probiotic stability by encapsulating them in tiny natural beads called Microgels.