Plant-Based Recovery Beverage Startup The Plug Drink Raises $1.5 Million in Seed Funding
Summary
The Plug Drink, a plant-based recovery beverage startup based in California, has announced it raised $1.5 in seed funding as it prepares for national expansion. The seed funding round counted the participation of prominent figures like wish.com’s CEO Peter Szulczewski, NBA basketball player Myles Turner, Miley Cyrus’ manager Adriana Arc, Backend Capital’s general partner Lucy Guo, FL player Troy Hill, actor Frankie Delgado, and many more. Having seen a steady growth between 30% and 50% each month since May, The Plug Drink is currently planning to roll across the United States by partnering with brick-and-mortar retailers. He referred to the drink’s formula, which consists of 13 different plant-based products with small quantities of vitamin C and D, by stating: “Our proprietary plant-based formula has the highest herbal concentration (3.6g) versus any direct competitors in the emerging functional recovery space. Prior to launching, our manufacturing partner and us invested millions into R&D over a three-year period.” Kim believes that this reversal of its competitor’s formula, which relies heavily on a small number of plants and large quantities of vitamins, makes the product especially attractive to newer generations in an increasingly competitive market.