Australian beverage brand, Naked Rivals has announced a successful capital raise of A$3 million within 3 months of launching its first 100% lemon and lime juice cubes product range across 1,600 supermarkets in Australia.
This remarkable deal, one of the largest of its kind in Australia this year for a startup, was sourced from a single ultra-high-net-worth family through the Australian Investment Network (AIN). AIN is part of the Angel Investment Network, the world’s largest online angel investment community.
Naked Rivals was founded by husband and wife team Andrew and Kate Gordon in 2023, with its products first launched in February 2024. It has since garnered considerable acclaim, including being awarded Best Beverage Product at the Naturally Good Awards and winning the Healthy Food Guide Specialist Product award. Naked Rivals is stocked in Coles, Woolworths and selected independent supermarkets including IGA, Ritchies, Drakes.
The Naked Rivals brand was born out of a personal need identified by co-founder Kate during her third pregnancy. The couple recognised the challenge of balancing healthy eating and sustainability with the demands of a busy family life. This insight led to the creation of Naked Rivals. Despite their full-time careers, Andrew and Kate continue to passionately grow Naked Rivals as a side hustle.
Looking ahead, Naked Rivals has bold ambitions to expand beyond the domestic market and retail channel. The company is currently in talks with several global distributors and FMCG brands to scale its product range internationally. With plans to develop new products, Naked Rivals aims to grow its business to generate over $120 million in revenue.
According to Andrew Gordon: “We are delighted to have secured this substantial capital investment with this angel investor backing our vision of providing convenient, healthy ingredients without compromising on environmental values. Our success is rooted in our ability to prove and demonstrate our global scaling ambitions. Ahead of securing this funding, we’ve sharpened our value proposition, centred around the theme of ‘convenience with a conscience.’”
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