The Munich scale-up air up has now raised 40 million euros in a further financing round.
The air up product is the world's first drinking system to aromatize drinking water simply by adding a scent.
The company, founded in 2019, continues to grow successfully.
After the market entries in Great Britain and Switzerland, more are to follow.
After the scale-up announced a Series A financing round at the beginning of the year, air up is now collecting more than 40 million euros.
The latest round of financing is thus a response to air ups rapid growth - including successful market entries in Switzerland and recently also Great Britain and Italy as well as a doubling of the workforce since the beginning of the year.
We are proud of the renewed trust that our existing investors have placed in us.
We knew our idea had the potential, but we never expected a success like this.
We hit a nerve with our extraordinary product and were almost unable to meet the high customer demand.
Lena Jüngst, co-founder of air up
Furthermore, the scale-up now has a run rate of 100 million euros and supplies more than 1 million customers across Europe - this corresponds to a potential saving of 85 million single-use plastic bottles and more than 2,465 tonnes of sugar.
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Lena Jüngst is the co-founder of the Munich startup air up
© Ippen Digital
We are happy to prove that you can actually bring about change with an innovative idea and a healthy dose of pragmatism.
We are thus underlining our vision of revolutionizing the beverage market worldwide and showing that health and sustainability can also be economically attractive!
Lena Jüngst, co-founder of air up
The project that air up emerged from originally came about with Lena Jüngst and Tim Jäger studying product design at the Schwäbisch Gmünd University.
After Fabian Schlang, Jannis Koppitz and Simon Nüesch joined the Munich University of Technology as further founders, the office of the young company relocated to Munich University.
A lot has happened since then.
It has only just become known that air up has landed in the German Startup Brand Ranking of the well-known agency Jung von Matt at number 1 of the 50 strongest German startup brands.
As early as January 2021, the scale-up, which is known, among other things, through the support of its prominent investors Frank Thelen (Freigeist) and Ralf Dümmel (DS Produkte), announced that it would be possible through the participation of, among others, Five Seasons Ventures, Ippen. Media and PepsiCo secured investments of around EUR 20 million.
air up now employs around 170 people from 31 nations and celebrated the milestone of more than 1 million customers a few months ago.
Disclaimer:
IPPEN.MEDIA is also one of the investors in air up.