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BE WTR Raises CHF 39 Million in its Latest Series C Funding Round, Led by Convent Capital, with Participation from PeakBridge, HHT and other Investors
Lausanne, Switzerland – 7-Oct-2024 – BE WTR, the Swiss-based company revolutionizing sustainable water solutions, today announced the successful closing of its CHF 39 million Series C funding round. The investment was led by Convent Capital, a prominent Dutch Agri Food growth equity fund, with strong follow-on participation from PeakBridge through their Growth 2 Fund, a prominent FoodTech investor and long-term supporter of BE WTR, Edmond de Rothschild Direct Investments and HHT, the holding company of serial entrepreneur Mike Hecker, Founder, main shareholder and CEO of BE WTR and other private investors.
This new round of funding will accelerate BE WTR’s mission to provide eco-friendly, premium water solutions, ensuring access to high-quality drinking water while reducing reliance on single-use packaging and plastics. The company is at the forefront of innovation in water purification, distribution, and sustainability, aiming to set new standards for how water is consumed across residential, commercial, and hospitality sectors.
“We are thrilled to welcome Convent Capital Agri-Food Fund as a new partner in our journey,” says Mike Hecker, CEO of BE WTR. “This funding round enables us to scale our circular bottling plants operations across Europe, Middle East, North America and Asia and expand our product offerings, driving further innovation in the water industry. We are also grateful for the continued trust and support from PeakBridge, who have been instrumental in our growth to date.”
Convent Capital Agri Food Fund’s participation underscores their commitment to impact-driven companies. “We believe BE WTR is uniquely positioned to address some of the critical challenges around the logistics, waste and health implications of water consumption. Their vision aligns with our goal of supporting businesses that create lasting value for society and the environment,” says Dirk Hoorn, CEO and Founder of Convent Capital.
PeakBridge, a leading agrifood tech venture capital firm, reaffirmed its strong support for BE WTR. “Our investments focus on industries where sustainability, innovation, and impact meet. We are proud to renew our commitment to BE WTR, a company disrupting the bottled water industry and democratizing water consumption with a proven business model. By eliminating the need for bottled water and offering sustainable alternatives, BE WTR is setting new global benchmarks for environmental change,” said Erich Sieber, Managing Partner at PeakBridge. ”Their vision to protect the planet aligns perfectly with ours, and we are excited to support their continued success in transforming a category that needed disruption.”
BE WTR plans to use the funds to further expand its Swiss and international reach including the launch of the Chinese & North American markets, invest in research and development, and enhance its market-leading portfolio of water solutions. BE WTR’s innovative, circular approach offers a more sustainable alternative to traditional bottled water consumption delivering bottled on site, filtered, great tasting water in elegant design glass bottles.
About BE WTR:
Founded in Switzerland, B-Corp certified BE WTR is dedicated to changing the way people experience and consume water. By providing high-quality, sustainable water solutions for premium hospitality, high gastronomy, offices and homes, BE WTR is committed to reducing plastic waste, single use and promoting environmental stewardship. The company’s innovative, compact, bottling plants located on site of consumption or in city centres are the next step for a more responsible and modern bottled water. The latest one, surrounded by a massive media interest, opened in Paris’ 18th arrondissement in mid-September. Next plant to open is at the Rosewood in Abu Dhabi in November and the company plans to operate over 20 bottling sites by end of 2025.
The brand also innovates in design water systems focusing on gastronomy, offices and residential with BE WTR AQTiV range, a water activation innovation. BE WTR is the water sponsor of Bocuse d’Or bringing taste and sustainability innovation to leading restaurants around the world.
About Convent Capital:
Convent Capital is a European-based investor with a long-term vision. The firm has direct investments in five platform companies across Europe and North America, in addition to managing funds in sector niches such as the Agri Food Fund (€150m). The Agri-Food Fund focuses on providing growth equity to innovative companies which make a positive impact to sustainability, innovation and societal progress within the sector.
About PeakBridge:
PeakBridge is a highly networked, global VC bridging the gap between bold innovation and real-world needs, to transform the future of food. From Seed to Series B, the firm invests in visionary pioneers with scalable, B2B, protectable technologies and positive impact at their core. Our global team includes pioneers of FoodTech investing, food industry experts and operators, scientists and financiers. 360° experience, tailor-made to support their portfolio companies in making long-term impact on the global food system.