Australian hydration-boosting drink PREPD is looking for a capital injection of $2 million to expand its business and grow market share.
Developed by Preserve Health, a Flinders University spinout, the new PREPD range hopes to raise $2 million in Series A capital to fund the growth and commercial rollout of PREPD nationally, as well as to launch a new powder product range, and move towards future global expansion.
Last year SA-based Preserve Health raised $500,000 in seed capital and the company says the hydration-boosting sports drink saw sales rise 134 per cent over the month of January this year and is receiving 'consistently positive consumer feedback'.
Preserve Health CEO David Vincent said the company is seeking Series A capital funding to position the company to realise the drink’s full potential on the world stage.
“While there are many sports drinks on the market, PREPD is completely different and really sits in a new sub-category of its own,” Vincent said.
“The hydration enhancing benefits of PREPD arguably represents the biggest advance since sports drinks were invented over fifty years ago. With no direct competitors, we have a global vision for PREPD and the potential is enormous.”
Clinical trial results published last year showed a dramatic hydration boost with AFL players using PREPD compared with consuming leading sports drinks only.
Since launching in November, the company says PREPD has been used behind closed doors over summer by elite level cricketers, footballers, supercar and UCI Pro cyclists during the Tour Down Under with these elite athletes reporting experiencing the significant hydration difference with PREPD from the first use.
