Less than 2 months after One Capital invested in its Pre-A round, No Ordinary Drink (NOD) a healthy beverage solutions company based in Shanghai, has raised a supplementary Pre-A round led by Proterra Investment Partners with co-investment from Linyi Hongying Technology Services Partnership. This new round was raised at an undisclosed nine-figure valuation.
SEE ALSO: Chinese beverage company No Ordinary Drink completes pre-A round of financing
To date, NOD collaborates with three convenience store companies in China: Family Mart, Lawsons and 7-11. The new funding will enable the company to increase its production capacity to gain a foothold into more major retailers and to invest more into social media, ecommerce, and trade marketing.
NOD has also an ambitious overseas expansion plan, relying on a two-pronged approach starting with Singapore and Germany as the launching pads into South-East Asia and Europe respectively. According to Market Data Forecast, the European beverage market is worth USD 503.55 billion per annum and estimated to reach USD 633.54 billion in 2026 whilst Asia Pacific’s is USD 351.08 billion. Both these markets are growing at a CAGR of 4 to 6 percent.
“NOD is a brand born in China with global ambitions, driven by a team with a proven blend of in-depth China and international expertise in the beverage sector. Chinese brands can now compete on the global stage. Long gone is the negative stigma surrounding the label made in China like what happened with Japanese products in the early seventies. Chinese consumer brands now have the necessary quality and innovation to succeed globally,” said Chris Tay, founder of NOD.
Chris Tay is preparing NOD’s series A fundraise, which has already garnered interest from Asia Pacific institutional investors.