The Female-Founded Brand Secures $4M in Seed Funding and Announces Retail Launch with Erewhon
NEW YORK, April 24, 2024 — KEY, an all-natural energy drink harnessing the power of ketones, launches today to modernize the $62B energy drink market. Co-Founded by two trailblazing executives from rival beverage companies, Coca-Cola and PepsiCo, Karishma Thawani and Tekla Back, KEY offers a clean alternative without the sugar shock or caffeine jitters that give energy drinks a bad rap.
Simultaneously, KEY announces the oversubscribed close of a $4M seed round led by AgFunder, one of the world’s most active foodtech and agtech investment funds. With additional backing from Alethia, the leading beverage VC and AgFunder SIJ Impact Fund, the round will support strategic retail distribution, inventory and marketing efforts.
“As a former PepsiCo exec, I swore I’d never launch a beverage, as I know how tough it is to start and scale a brand. However, when I discovered the benefits of ketones, I became determined to make them accessible for all,” says Co-Founder Tekla Back.
Co-Founder Karishma Thawani adds, “The first time I tried ketones, I was blown away by the long-lasting energy, the euphoric feeling and the mental focus I felt. I cannot wait for everyone to experience KEY to tap into their full potential.”
In an industry saturated with sugar-laden, artificial stimulant sips, KEY is unlocking an alternative source of genuine energy from ketones. The ketones in each beverage deliver long-lasting smooth energy, instead of a sugar spike followed by a crash. Ketones also provide dose-dependent advantages such as improved cognitive benefits, appetite suppression, metabolic health and enhanced recovery. Additionally, unlike the synthetic ketones found in supplements today, KEY uses pure active natural ketones made using fermentation.
KEY’s debut collection features the following flavors with all-natural ingredients:
- Pineapple Passionfruit ($3.75) – Rejuvenate with tropical pineapple and ripe passionfruit
- Grapefruit Peach ($3.75) – revitalize with refreshing grapefruit and juicy peach
- Ginger Lime ($3.75) – invigorate with spicy ginger and citrusy lime
Manuel Gonzalez, general partner at AgFunder, said: “I was an investment banker for many years. We survived day in and day out with caffeine and energy drinks, boxes, and boxes of them. Every time, I thought, well, this is not good for me, but let’s have it. When I saw KEY, I thought, this is not possible, all-natural, no sugar, no caffeine… how can this be? Well, it so happens that ketones activate our own body’s ability to make energy. Ketones and green tea are my new mantra. But more than anything, Tekla and Karishma are the embodiment of founder market fit. Every time I talk to them, I like this company better, and every time I drink a KEY, I feel the long-lasting energy, and when I read the simplicity of the label, I see a great company in the making.”
In addition to launching direct-to-consumer and on Amazon, KEY will roll out their first line of beverages at select, curated retailers including celebrity-favorite Southern California health grocer Erewhon and targeted high-traffic retailers across Manhattan, Brooklyn and Hamptons. With over 25 years of combined experience in the food & beverage industry, Co-Founders Thawani and Back, are combining old school retail and online community building to scale fast, balancing brand building and distribution.
About KEY
KEY is a first-of-its-kind, clean all-natural energy drink, providing long-lasting energy by unlocking a new energy source: ketones, made using fermentation. Thawani and Back, experienced beverage industry innovators, combined the functionality of ketones with the enjoyment of energy drinks, to create a first-of-its-kind beverage category. Rooted in the belief that humans possess untapped potential, KEY’s mission is to help people unlock this natural energy.
KEY’s offerings can be found at select retailers across California and NYC and on drinkkey.com
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