Duke Alum’s Startup, Mati Energy, Raises Another $2.5 Million Dollars
We’re very familiar with the story of a tech startup starting in a dorm room. Obviously, the logistics of it can be really easy, one, two maybe three people get together with their Macbook Pro’s and start hacking on today’s 1st world problems. But what about an energy drink?
That’s the case with Mati Energy where founder Tatiana Birgisson started mixing up the concoction that would lead to the commercially available energy drink in her dorm room. Energy drink, dorm room, that has to be some college in the Pacific Northwest? Nope, wrong again. Mati Energy was created while Birgisson was at Duke University.
The original secret formula for Mati Energy Drinks is a mixture of tea, fruit juice and guayusa leaves. The energy part comes from the equivalent of one and a half cups of coffee. Not only that, but it has way fewer calories than a Red Bull (45 versus 160). Combined with the business smarts of a Duke education that’s a recipe for success for Birgisson and her team.
The Herald Sun reports that the company just raised $2.5 million dollars of a $3.75 million dollar raise, leaving $1.2 million still available for investors. An SEC filing reports that 32 investors participated in this round. This isn’t their first trip to the table though, in 2015 they took a $150,000 investment from billionaire AOL founder, Steve Case, and it all started with a seed round led by the Duke Angel Network and the Durham based IDEA Fund Partners in 2012.
Their products can be found in high end natural focused grocery chains like Whole Foods for around $2.49 a can, comparable to other energy drinks on the market. They are now producing their drinks in their own 30,000 square foot manufacturing plant in Clayton North Carolina. The Herald Sun reports that the company produced 100,000 cans last month.
The success so far has resulted in Birgisson being named to Forbes’ 30 under 30 list.