| April 28, 2022 | Food & Drink
Hold on to your baseball bats. Beyonce is once again putting all her power into lemonade.
The winningest female artist in Grammy history just became a major investor in Lemon Perfect, an Atlanta-based brand of flavored water that positions itself as a hydrating and healthy alternative to sugary beverages.
According to the brand’s website, each bottle of Lemon Perfect includes the juice of half an organic lemon and a full daily serving of vitamin C. It boasts zero sugar, only five calories, and all the digestive support of natural lemons.
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Mrs. Knowles-Carter’s investment was just part of $31 million earned via a Series A funding session that counts her among a lineup of fellow financiers across the food and beverage, media, sports and entertainment industries.
“I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious,” Knowles-Carter is quoted in the official announcement. “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.”
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Lemon Perfect was founded by CEO Yanni Hufnagel in 2017 and saw quadrupled revenue in 2021. Hufnagel says this $31 million will go toward scaling the brand to more than 40,000 distribution points by the end of this year. Currently, Lemon Perfect is sold in select grocery stores across the country and direct to consumers online.
“Lemon Perfect is quickly taking significant market share from the leading brands in the enhanced water category by offering a better-for-you, better-tasting product that’s resonating broadly with the American consumer,” he says. “We are honored and humbled that Beyoncé has become a part of the Lemon Perfect family. She is a worldwide icon whose talent, character, and positivity are unsurpassed. Her investment and the energy it sparks will accelerate Lemon Perfect’s rise toward its goal of becoming the number one brand in the multibillion-dollar enhanced water category by market share.”
This recent round of funding brings Lemon Perfect’s total valuation to more than $100 million. Since selling its first bottle, the brand has raised $42.2 million directly from investors.
“Lemon Perfect has found product-market fit in a hyper-competitive category, and we are thrilled to support their growth,” says Phillip Sarofim, Trousdale Ventures Founder and CEO. “We believe they can disrupt an American beverage ecosystem still dominated by high-calorie, high-sugar options and democratize drinkable wellness.”
Learn more via Lemon Perfect’s website and see where you can try some of this lemony goodness yourself.
Photography by: Handout / Getty