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The Startup CPG Podcast

#68 How to Raise $10 Million: Fundraising Aura Bora Style with Paul Voge

The Startup CPG Podcast

Startup CPG

Startup, Food, Business, Beverage, Cpg, Entrepreneurship

4.9642 Ratings

🗓️ 8 November 2022

⏱️ 58 minutes

🧾️ Download transcript

Summary

Today’s hot topic is fundraising. And what could be better than talking fundraising with our favorite weird sparkling water brand, Aura Bora. Aura Bora just raised a Series A round, led by Siddhi capital, bringing their lifetime funding as a brand to $10 million, and co-founder Paul Voge is here to share the details with us. Paul and his wife Maddie founded Aura Bora in 2019, and they make sparkling water from herbs, fruits, and flowers for earthly tastes and heavenly feelings. They use unique ingredients like basil, cactus, and lavender for a better-tasting experience, all while donating 1% of annual revenue to environmental causes via 1% For The Planet. Aura Bora is one of the fastest-growing beverage brands in the country with their 0 calorie, 0 sugar, non-GMO, plant-based, and craft flavors. Listen in as Paul shares about: - Aura Bora’s different funding stages from friends and family, to seed rounds, to the recent Series A with institutional investors; - How he learned about the world of fundraising and his recommendations for getting started; - The logistics behind tackling fundraising from staying organized, to working as a team, to a favorite question to ask someone who says “No”; - How he says motivated and how they’ve built long term relationships with potential investing partners along the way; - The newly formed Aura Bora board of directors and what that means; - How Aura Bora will use the funds and exciting future growth plans; - And more! This episode was sponsored by Mondelēz International - applications for the 2023 SnackFutures CoLab program are open now! Go to applycolab.com

Transcript

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0:00.0

Yes, there is a lot of minutia, legal docs, diligence rooms, spreadsheets, models, justifying

0:10.3

your valuation that is not that fun.

0:12.6

But I mean, I can think of some investors that I've checked in with them every quarter for the

0:16.9

last 10 quarters and they just invest in my business.

0:20.3

Like, that is an existentially fun thing.

0:22.7

I was like, okay, they weren't a believer in 2019.

0:25.3

They weren't a believer in 2020.

0:26.8

They were not a believer in 2021.

0:28.4

And in 2022, they wired us cash.

0:30.8

Welcome to the Startup CPG podcast.

0:33.2

I'm your host, Jesse Freytag.

0:35.3

Today's hot topic is fundraising.

0:38.0

And what could be better than talking fundraising with our favorite weird sparkling water brand,

0:42.8

Aura?

0:43.9

Oroborra just raised a series A round, led by city capital, bringing their lifetime funding

0:49.9

as a brand to $10 million.

0:52.5

And co-founder Paul Vogue is here to share the details with us.

0:56.5

Paul and his wife Maddie founded Oroborah in 2019, and they make sparkling water from herbs,

1:02.0

fruits, and flowers for earthly tastes and heavenly feelings.

1:05.2

They use unique ingredients like basil, cactus, and lavender for a better tasting experience, all while donating

1:12.0

1% of annual revenue to environmental causes via 1% for the planet.

1:17.8

Orabora is one of the fastest growing beverage brands in the country with their zero calorie,

...

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