Lucky Energy raises $25m to support further US expansion

Core Insights - Lucky Energy, a US-based energy drink start-up, has raised $25 million in its Series B funding round, led by Paine Schwartz Partners [1] - The company aims to use the funds for retail expansion, partnerships, hiring, and increasing marketing efforts [2] - Lucky Energy currently operates in over 15,000 retail locations and plans to expand to Walmart, Sheetz, and Cumberland Farms next month, targeting around 35,000 locations by next year [2] Funding and Investment - The latest funding round included participation from existing investors and new backers such as Joyance Partners and family offices North Fifth Services and Sequel [1] - With this round, Lucky Energy has raised a total of $63 million to date [5] - Previous investments include a "six-figure" investment from InvestBev in June and a $14.2 million raise in March led by Maveron [6] Product and Market Strategy - Lucky Energy offers a range of flavored sugar-free energy drinks, including Son of a Peach, Cherry Pop, Red Ryder Punch, and Bodacious Berry [3] - The company is exploring select global markets, with plans to enter Jamaica and capitalize on its brand recognition in territories like Puerto Rico and the US [4] - The global energy drink market is valued at $100 billion, presenting significant growth opportunities for the company [4] Leadership and Board Composition - The board of Lucky Energy has been strengthened with the addition of Paine Schwartz Partners' operating directors, James Brennan and Bob DeBorde [5] - DeBorde, who is also the chairman of Suja Life, emphasized the brand's potential to lead growth in the energy drink category by combining great taste with clean, functional ingredients [5]