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Bevi

Manufacturer of internet-connected, bottleless water and beverage dispensers.

Discussion
climate-techfood-and-beveragehealthcareiot

Company facts

Series D-stage
Founded
2013
Employees
372
Headquarters
United States
CEO
Cathy Lewenberg
Type
Private
Funding
Series D · $70M · 2022

About

The story of Bevi begins with a profound concern for the planet and a desire to combat the growing problem of plastic waste. Eliza Becton, one of Bevi's co-founders, grew up sailing and developed a deep appreciation for the ocean. This love for the marine environment fueled her determination to find a solution when she learned about the vast Pacific Garbage Patch, a massive accumulation of plastic debris. She envisioned a way to 'out-design' single-use plastics, particularly bottled water, by making sustainable choices more appealing and convenient. In 2013, Eliza Becton joined forces with Sean Grundy and Frank Lee, two friends who shared her passion for environmental sustainability and technological innovation. Together, they embarked on a mission to engineer a smart water dispenser that would not only provide filtered water but also offer customization with flavors and carbonation. This marked the birth of Bevi. The co-founders initially explored a B2C model, placing prototype vending machines in public spaces like gyms around Boston. However, this approach presented challenges in terms of brand awareness and the logistics of maintaining the machines. A pivotal moment came with their acceptance into the Techstars Boston accelerator program, which helped them refine their business model and attract venture capital interest. The company then shifted its focus to the B2B market, targeting offices and commercial spaces. This strategic move proved successful, as businesses were increasingly looking for sustainable amenities and ways to enhance employee well-being. Bevi's smart water coolers offered a compelling solution, providing a variety of healthy and customizable beverage options while significantly reducing the reliance on single-use plastic bottles. Over the years, Bevi has continued to innovate, expanding its flavor offerings and enhancing its technology to create an intuitive and engaging user experience. The company has successfully raised significant venture capital, enabling its rapid growth and the deployment of thousands of machines across North America, serving major clients and diverting hundreds of millions of plastic bottles from landfills and oceans. Today, Bevi stands as a leader in sustainable hydration, driven by its founding mission to unbottle the future and make a positive impact on both people's health and the planet.

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