PREPD closes Pre-Series A round to fund growth of a new hydration-boosting drinks
Oleh : Candra Mata | Rabu, 26 Juni 2019 - 09:20 WIB
INDUSTRY.co.id - Flinder University- Preserve Health Pty Ltd has successfully raised more than $950,000 in a Pre-Series A round to fund the growth of PREPD, a new range of hydration-boosting drinks.
PREPD is a two-step hydration-enhancer designed to boost the absorption of any sports drink and water to reduce dehydration, and help athletes perform at their peak for longer.
The Flinders University spin-out company raised funds from both current shareholders and new private investors, including Kevin Poulton, Head Coach of UCI Pro Cycling Team Katusha Alpecin.
Mr Poulton understood the enormous commercial potential of PREPD after he saw remarkable benefits that it delivered for athletes at a summer cycling training camp in Andorra during 2018.
“The key difference we continue to see with professional cyclists using PREPD is less reduction in post exercise weight through better hydration,” says Mr Poulton.
“This reduced fluid loss results in a stronger performance by the athlete, especially in the later stages of racing and training.”
After its launch in November 2018, PREPD experienced rapid month-on-month sales growth throughout summer, and is now available in more than 30 sports specialty stores, and sold online through www.prepdhydration.com.au.
PREPD CEO David Vincent says, “We view PREPD as the biggest leap in hydration technology since sports drinks were invented.” Results from a trial with AFL players were published in 2018, showing a dramatic hydration advantage with PREPD compared with leading sports drinks.
“The hydration advantage with PREPD is so compelling that recreational and elite athletes alike
typically feel the hydration difference after their first use,” says Mr Vincent.
He says the company is excited that the recent funds will enable accelerated growth of PREPD
It will also launch a new powder product range later this year and expand into the US market in early 2020.
“We plan to significantly grow our distribution over the next 12 months in sports stores and gyms, while exploring other channels such as chemists and nutrition stores,” says Mr Vincent.
“We also plan to increase our marketing activity with a focus on product sampling at endurance events, so consumers can experience the unique benefits of PREPD first hand.”