VERSO Capital, the Luxembourg- based boutique merchant banking and financial services company, has announced the successful completion of a serial investment in Nitro Beverage Inc.
The additional capital will allow the New Jersey- based maker of fair trade, nitrogen-infused, organic cold brew coffees to expand its product lines and increase retail capacity in the United States, the statement said.
VERSO Capital has a history of investing in visionary and disruptive companies. In the past four years, she has invested over $ 245 million in tech startups ranging from Climatech to Foodtech to Biotech. She led the seed investment rounds that resulted in a new capital injection for Nitro Beverage Inc., the innovative beverage platform and creator of NITRO cold brew coffee.
VERSO Capital was founded in 1958 and is a boutique merchant banking and global financial services company with headquarters in Luxembourg and offices in Geneva, Friborg, Vaduz and Dubai.
Under the direction of Julien Machot, the company works with customers around the world and is known to be very selective in its investments, only investing in three to five companies per year.
The equity financing provided New Jersey- based NITRO with the funds to continue its expansion. The beverage company was started by two brothers and two of their friends. It started as a handcrafted coffee cart in Asbury Park in 2016, offering beverages that are sugar, calorie and preservative free. In 2018 they started selling their coffee products in both cans and kegs. Since then, their operations have grown rapidly and they now supply kegs of organic nitro coffee to leading offices and products to over a thousand retail stores across the United States .
VERSO has been working with NITRO since the beginning of 2019 and has accompanied the beverage company through the COVID-19 pandemic and the lockdown in Manhattan.
The Series Seed started in mid-2020 and has now been successfully completed, Verso said.
Julien Machot , founder of VERSO, said: “We believe that in the future the company will be very attractive to larger corporations like Pepsico entering the RTD coffee segment.”
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