KARMA WELLNESS WATER
IN JUNE OF 2016 GREEN GREEN CIRCLE LEADS THE $2.25MM SERIES A-1 PREFERRED EQUITY CAPITAL RAISE FOR KARMA CULTURE LLC.
New York, NY July 12, 2016 – Green Circle Capital Partners is pleased to announce the completion of an equity capital raise for Karma Culture LLC, makers of Karma Wellness Water and Karma Probiotics. Both product lines utilize the patented Karma Push Cap. The breakthkarma logorough probiotic-fortified beverage is shelf-stable (unlike most products in the category that have a short shelf life and require refrigeration). Karma Probiotics was launched into 8,500 stores earlier this year.
The company raised a combined $2.25MM in preferred equity from a syndicate of investors in a closing conducted in December of 2015 and another in June of this year, according to Stu Strumwasser, Senior Managing Director of Green Circle. Strumwasser added: “It has been a real pleasure to be associated with the team from Karma. They are uniquely experienced and consummate professionals, and we are big believers in the market opportunity they are addressing.” CJ Rapp, the Founder & CEO of Karma was also the founder of Jolt Cola in the 1980s, and Karma’s President, Jeff Platt, previously held senior sales roles with Snapple and others.
“We needed a modest injection of capital to fund our growth and the introduction of our new product line. Stu and his team at Green Circle turned out to be the perfect choice. Stu is tireless, and was often on the phone with me at night and on weekends. The unconventional hours were helpful while trying to also manage a growing company. It didn’t hurt that he had personally run a beverage startup for years, as it enabled him to deeply understand our challenges and opportunities, and articulate them to prospective investors. Green Circle advised us on how to properly structure the transaction, secured the capital we needed from an impressive list of new investors, and also helped us to initiate relationships with several important institutional investors with whom we may reconnect in the future.”
-CJ Rapp, the Founder & CEO of Karma
Karma Culture LLC now sells their premium hydration beverage products nationwide in the US and Canada. The company also sells or licenses their patented dispensing cap system to a variety of third-party customers who seek to transform ingredients that would otherwise not be shelf-stable, into convenient “ready to mix” products.
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