Beyoncé Invests In ‘Lemon Perfect’ Water Brand, Bringing Its Series A Funding To $31 Million

April 28, 2022 by Monique Nicole in Music with 0 Comments

Beyoncé Invests In ‘Lemon Perfect’ Water Brand, Bringing Its Series A Funding To $31 Million

It looks like Beyoncé went from lemonade to lemon water!

Lemon Perfect—a hydrating lemon water brand based in Atlanta, Georgia—has announced that singer/entrepreneur, Beyoncé Knowles-Carter is one of the new investors as part of the company’s $31M Series A funding. Reportedly, the company plans to use the funding to scale the water brand to over 40,000 points of distribution by the end of 2022. Reps for Lemon Perfect say the brand–which was founded in 2017– quadrupled revenue in 2021, thanks to growing interest in alternatives to traditional soft drinks. The company is projecting event higher numbers this year– greater than 100% revenue growth in 2022.

Beyonce

CEO and founder Yanni Hufnagel had this to say about queen bey being an investor in his company:

“We are honored and humbled that Beyoncé has become a part of the Lemon Perfect family. She is a worldwide icon whose talent, character, and positivity are unsurpassed.”

He continued,

“Her investment and the energy it sparks will accelerate Lemon Perfect’s rise toward its goal of becoming the number one brand in the multibillion-dollar enhanced water category by market share.”

In the official press release, Beyoncé had this to say about Lemon Perfect:

“I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious.. It was an easy decision to invest in something that not only tastes great and is healthy, but also, and most importantly, allows choosing a healthier lifestyle to be affordable and accessible to everyone.”

Beyoncé

Lemon Perfect is an organic, cold-pressed lemon water with zero sugar and no artificial flavors or sweeteners. It contains electrolytes from potassium and is packed with vitamin C.

The company’s Series A investors include leading consumer product funds Beechwood Capital, Goat Rodeo Capital, Melitas Ventures, NNS Capital, and Trousdale Ventures.The financing from Beyoné and the other investor now brings Lemon Perfect’s combined funding to a total of $42.2 million to date, valuing the business at over $100 million!