Coefficient Capital backs TRIP in US$40m growth round
London-based calming drinks brand TRIP has raised US$40m ($61.4m) in new capital, in a funding round led by New York consumer investor Coefficient Capital and joined by a group of celebrity backers including Joe Jonas, Alessandra Ambrosio, Paul Wesley, Ashley Graham and Sophie Habboo. The raise values TRIP at more than US$300m ($460.1m), with the company planning to use the funds to accelerate US expansion and deepen its partnership with meditation app Calm.
Transaction snapshot
Deal value: US$40m ($61.4m) primary capital raise; press reports indicate an implied valuation above US$300m ($460.1m).
Deal multiples: N/A
Deal type: Equity funding round to support growth and international expansion
Investors: Led by Coefficient Capital, with celebrity investors Joe Jonas, Alessandra Ambrosio, Paul Wesley, Ashley Graham and Sophie Habboo
TRIP was founded in 2019 by husband-and-wife team Olivia Ferdi (CEO) and Daniel Khoury. The business launched as a CBD drinks brand and has since broadened into magnesium-based “calming” drinks, electrolyte powders and supplement gummies positioned around stress relief and mental wellbeing.
The company now describes itself as a leading global “calming beverages” brand. Its products are stocked in around 10,000 US retail doors and 50,000 locations worldwide, including Target, Whole Foods Market, Sprouts, H-E-B, Wegmans, CVS, Erewhon, Soho House and other major chains.
Management expects TRIP to generate about US$100m ($153.4m) of revenue in 2025 and is forecasting that sales will more than double by 2026. The business has stated that it is already profitable.
The funding continues a run of capital formation for the company. UK trade press report that TRIP had previously raised more than £25m ($50.5m), including a £5.6m ($11.3m) equity investment from The Equity Studio in December 2024.
UK media note that the latest round makes TRIP one of the most valuable UK-founded drinks brands since Innocent and Fever-Tree, and describe it as the highest-valued drinks business led by a female founder-CEO.
Calm remains a central part of the go-to-market story. TRIP’s collaboration with the meditation and sleep app includes a free Calm membership or trial with each can, combining a physical drink with a digital wellness service. The new capital is expected to fund further Calm-linked initiatives as the brand scales distribution in the US.
Investor materials frame TRIP as sitting at the intersection of “better-for-you” soft drinks and alcohol alternatives. The company highlights low sugar, functional ingredients such as magnesium, adaptogens and botanicals, and growing consumer concern about stress, mental health and alcohol consumption. Surveys cited in TRIP’s communications point to a majority of adults reducing sugar intake and a large share of Gen Z adults who either avoid or have never tried alcohol, which the brand positions as a demand driver for calming, non-alcoholic options.
Coefficient Capital is a New York-based consumer growth investor focused on “transformational consumer shifts”, backing brands that sit where online and offline consumer behaviour converge. The firm has previously invested in Oatly and other high-growth consumer brands, and is positioning TRIP as a beneficiary of the global shift toward functional and mood-focused beverages.
Existing shareholder 029 Group SE, a Berlin-based hospitality and lifestyle investment platform, describes TRIP as one of the fastest-growing wellness brands globally and notes that the new round closed at a “significantly higher valuation” than earlier financings. 029 Group also points to category comparables such as Poppi and OLIPOP in the US prebiotic soda space, where transactions and valuations have underscored investor appetite for scaled functional drink brands.
