Melbourne startup Bae Juice secures $1m to fuel US expansion

Melbourne-based Bae Juice has just raised $1 million in funding to support its expansion into the US market. The investment round drew attention with Laurence Escalante, a notable billionaire in technology and gaming, participating through his family investment vehicle, Lance East Office. The round also saw continued support from existing investor, Honan Capital family office.

Transaction snapshot

  • Deal value: $1 million
  • Deal multiples: N/A
  • Deal type: Equity funding round
  • Investors: Lance East Office and Honan Capital

Founded in 2019 by Tim O’Sullivan, Liam Gostencnik, and Sumin Do, Bae Juice aims to dominate the Australian market with its hangover prevention juice made from Korean pears. The product is already available in Woolworths, BWS, and Dan Murphys. The latest funding will accelerate Bae Juice's recent US expansion efforts alongside its partnership with Gold Coast Distributors, focusing on increasing its retail presence in New York City.

Bae Juice has set ambitious targets, aiming for distribution in over 1,000 stores in New York by the end of the year and looking to expand into other states. The company is also exploring the launch of new flavours and products to diversify its offering. This investment round marks a significant milestone for Bae Juice, which has sold more than 2.5 million units in the past five years and was bootstrapped from a small storage unit in Melbourne.

The company has experienced rapid growth, with founders O’Sullivan, Gostencnik, and Do being recognised as finalists in the 2023 Melbourne Young Entrepreneur of the Year Awards. Bae Juice is now looking to secure a distribution deal with another major Australian retailer in 2024, expanding its footprint to approximately 5,000 stores across Australia. 

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