Victorian-based Aquafab has completed a $620,000 Series A raise through Birchal, supported by over 300 investors. The company told Food & Drink Business that the funds will support continued national growth and plans in place to enter the US and UK markets this year, supported by early interest from major distribution partners.
Aquafab was commercially launched in October 2024 by co-founders Danny Kane and Rebecca Grey, and has now been adopted by over 800 venues across Australia.
Made from the liquid of cooked legumes, the product produces the silky finish that bartenders strive for when crafting frothy cocktails, while catering to the growing number of customers seeking plant-based alternatives.
The formula provides a versatile, shelf-stable solution for perfecting foams, textures, and flavours in drinks, as effective as egg-white and more sustainable than the byproduct of canned chickpeas.
The product is 100% Victorian, made using locally-grown faba beans and produced in Ballarat, at Cottonwood Springs. It comes in a 500ml Tetra Pak carton that can make 16-20 sours, with a two year shelf life, or 7-10 days once opened.
Aquafab featured in the April/May 2025 edition of Food & Drink Business magazine as a Rising Star, and topped the Best Ingredient category at the 2025 Hive Awards. They’ve been making waves ever since, now supplying major cruise lines including Disney, Princess, Holland, Seabourn, Silversea, and Crystal.
The company told Food & Drink Business: “We are extremely happy with the results from our crowdfunding campaign. Financially it gives Aquafab legs to expand our business within Australia, Cruise Lines and distribution abroad.”
“We are overwhelmed by the support we have received from our new shareholders and the passion they share with us about Aquafab. We were also able to create further brand awareness with additional engagement and enquiries, which is fabulous!”
