Beyoncé has now become an investor in the lemon water brand, “Lemon Perfect,” after the beverage was spotted in the superstar’s limo.
The lemon water brand “Lemon Perfect” recently announced Beyonce becoming a backer in its “$31million Series A” fundraise. The pop megastar invested alongside Beechwood Capital, Goat Rodeo Capital, Melitas Ventures, NNS Capital, and Trousdale Ventures.
The company went viral two years ago when the Grammy-award-winning artist posted a photo of herself with the beverage.
“She had posted a photo with it in her limo, and all of a sudden my phone blew up,” said CEO and founder Yanni Hufnagel.
“We came to learn that she was an authentic fan of the brand. A year later, one of our investors was in her house and saw her stash in the fridge and helped us build the bridge with her. It is beyond my wildest dreams to have someone of her influence being a fan of the brand.”
Beyonce also shared her excitement about her new investment:
“I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious,” the “Lemonade” singer said. “It was an easy decision to invest in something that not only tastes great and is healthy, but also, and most importantly, allows choosing a healthier lifestyle to be affordable and accessible to everyone.”
CEO Yanni Hufnagel started the Lemon Perfect company in 2017 during his career as a basketball coach. After seeing his basketball players drinking vitamin water “Bai,” it triggered Hufnagel into thinking about taking lemon water and giving it the same foundation as Bai.
Today, Lemon Perfect is in direct competition with drinks like Bai, Vitamin Water, and Hit. The drink comes in flavors like Just Lemon, Blueberry Acai, Peach Raspberry, and the music moguls’ favorite Dragon Fruit Mango. The new investment gives Lemon Perfect total funding of $42.2 million and a total valuation of over $100 million.
In other Bey investments, she recently invested in the French fashion brand, Destree, alongside Rihanna. The brand only has women as investors.