Erewhon Market Backed Hydration Company, BARCODE, Closes Multimillion Dollar Fundraising Round To Bring Rebellious Authenticity And Optimized Nutrition To Center Stage

LOS ANGELES, Feb. 14, 2022 /PRNewswire/ -- Premium functional beverage company BARCODE that takes on the traditional hydration heavyweights by unlocking consumers' greatest potential with healthy nutrients, has successfully closed $2.2 Million in their latest fundraising round with commitments from a top-tier group of institutional investors, celebrities, and athletes.

Launched by seasoned NBA coach and professional trainer Mubarak Malik less than a year ago after learning hydration, recovery and mental recharge are key to optimizing human health, Barcode has secured exclusive distribution partnerships with Los Angeles Distribution, and experienced rapid growth in Erewhon Market — the holy land for emerging consumer trends.

This funding round, which includes participations from Trousdale Ventures, Midnight Venture Partners, Cathexis Ventures, Silas Capital, Gaingels, Erewhon Market, as well as music recording artist and television producer Kelly Rowland, and NBA Basketball player Maurice Harkless, will be used for branding, product innovation, and marketing.

These highly selected investors are equipped with deep experience of CPG exits, leading rounds in emerging brands, distribution, supply chain and retail, and most importantly, scaling a high-growth beverage brand from zero to $10 Million in sales, according to Mr. Malik.

Vito Antoci, Vice President of Erewhon Market, says: "Erewhon firmly supports BARCODE as a top-performing sports drink in our seven stores across Los Angeles. We believe in better-for-you alternatives in the ready-to-drink category that naturally make a difference in the way you feel."

Ms. Rowland, who will support BARCODE's mass retail expansion in the future, says: "When I met Bar, I was inspired by his enthusiasm and I loved the drink. I invested in this company because I believe in the team behind it, and the uniqueness of the product. I haven't seen anything like Barcode that is great for athletes and anyone on the move."

Mr. Harkless also adds: "BARCODE helps me play better by putting the right ingredients in my body at the right time. It was a no-brainer for me to get involved because I can use it as a vehicle to educate younger players, who aspire to play in the NBA, about the importance of wellness."

From A Digitally Native Brand To Omnichannel Success

With minimalistic and audacious packaging design, BARCODE initially launched as a digitally native brand that also easily outshines peer hydration products on shelf. There are currently three thirst-quenching flavors available: Lemon Lime, Watermelon, and Pinot Noir, with each 12-pack sold for $48.00.

Malik says: "We all have our own code that represents our best version, and BARCODE's mission is to unlock your greatest potential through nutrition and lifestyle. With our branding, the barcode not only acts as a logo, but we're also able to add digital filters because it's an active UPC the consumer can interact with."

Years of training professional athletes have also taught Malik about how traditional hydration products added with electrolytes are not able to provide enough nutrition for the human body. That's why BARCODE is also boosted with multivitamins, ashwagandha, and magnesium to help increase full body resiliency by meeting the needs of hydration, immunity, and recovery.

BARCODE will enter additional 10 Central Market stores across Texas, and launch via Amazon in March, which will further accelerate the company's already high double-digit growth momentum. The goal is to scale the business steadily over time by focusing on the natural channel in Southern California, Texas, and Florida before expanding across the U.S.

Malik says: "I want BARCODE to be an iconic brand — one that was born in NBA with athletes, moved to Hollywood to take on the better-for-you epicenter, and eventually dominate the natural channel."

For more information on BARCODE or to purchase online, check out their DTC website at drinkbarcode.com, and follow on Instagram @drink.barcode.

About BARCODE
Headquartered in Los Angeles, California, BARCODE is a premium hydration product created by Mubarak Malik, who has spent decades training the most elite athletes and celebrities as former Head of Performance for the NY Knicks, and is currently working with the LA Lakers. BARCODE is a low-sugar, nutrient dense, functional alternative to market incumbents, perfectly designed for people optimizing their health and driving our culture forward with a rebellious authenticity.

MEDIA CONTACTS
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SOURCE Drink Barcode

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