Just three months after launching its first product range in 1600 supermarkets across Australia, family-owned start-up, Naked Rivals, has completed a $3 capital raise.
Naked Rivals was created by Andrew and Kate Gordon recognised the challenge of balancing healthy eating and sustainability with the demands of a busy family life. They both worked full time and were expecting their third child.
This result of this revelation was Naked Rivals, a brand dedicated to providing convenient, healthy ingredients without compromising on environmental values.
Still working full-time, the couple have continued to grow Naked Rivals as a side hustle.
Andrew Gordon said, “We are delighted to have secured this substantial capital investment. Our success is rooted in our ability to prove and demonstrate our global scaling ambitions. Additionally, we've sharpened our value proposition, centred around the theme of ‘convenience with a conscience’.”
Its $3 million raise, one of the largest for a food and beverage start-up in Australia this year, came from a single ultra-high-net-worth family, through the Australian Investment Network. This online portal connects angel investors with promising brands like Naked Rivals, facilitating substantial growth opportunities.
Since its launch in February, Naked Rivals has garnered significant attention on the awards circuit, including being a finalist in The Hive Awards in the Rising Star category. Since then, it has gone on to win Best Beverage Product at the Naturally Good Awards and the Healthy Food Guide Specialist Product award.
Naked Rivals is now looking to expand beyond the domestic market and retail channel. It is currently in talks with several global distributors and FMCG brands to scale its product range internationally.
With plans to develop new products, Naked Rivals aims to grow its business to generate more than $120 million in revenue.
