Canned water is all the rage in the United States. They are becoming more and more popular in neighborhood stores, streets or festivals, but they are not affordable for all budgets. A 500 ml can costs between US$1.69 or US$2.29 in store, but this price can go up to US$5 if purchased from a street stall.
Growth is exponential and a clear example can be found in the canned water startup Liquid Death, which entered the market in 2019 and intends to expand now to Europe, is now valued at $700 million.
The Santa Monica-based company, whose motto is ‘Death to Plastic,’ recently raised $70 million in funding led by Science Ventures, bringing its valuation to nearly $1 million. The company also announced that it will use this investment to increase its expansion into new beverage categories.
“We believe Liquid Death may be the fastest growing non-alcoholic beverage of all time,” said Peter Pham, co-founder of Science Ventures. One of Liquid Death’s competitors, Path Water, which offers water in aluminum bottles, also just raised $30 million in funding.
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