ICONIC Protein Closes $8 Million
Consumer startup ICONIC Protein closed $8 million in financing, led by private equity firm KarpReilly. Beverage entrepreneur Bill Moses also participated in the round and will join ICONIC as the company’s executive chairman.
Launched in 2013, ICONIC is one of the beverage industry’s biggest growth stories, racking up triple-digit, year-over-year gains for the past four years. The company’s ready-to-drink beverages are made using dairy protein from grass-fed cows in New Zealand that are hormone-, antibiotic- and preservative-free. The line is unique in the protein beverage space for its lighter taste profile, making it a hit with health-conscious consumers looking for protein boosts without the heaviness of traditional protein drinks.
According to the company, the investment will support the company’s product innovation and global growth strategy.