waterdrop announced it has closed a funding round exceeding €100 million, marking the largest capital raise in the company’s history as it accelerates global expansion and product innovation initiatives. The round includes investments from Aspeya, Atlantic Grupa, and Aleksander Aamodt Kilde, who joins the company as both an investor and brand ambassador. Existing shareholders, including Temasek, Döhler, and Bitburger, also continue backing the business.
Founded in Vienna in 2016, waterdrop created the “Microdrink” category with compact, sugar-free hydration cubes made from fruit and plant extracts. Since launch, the company has expanded into a broader hydration ecosystem that includes Microenergy caffeine products, Microlyte electrolyte offerings, reusable bottles, and water filtration systems.
The company said it now serves more than 5 million online customers globally, generates approximately €150 million in annual revenue, operates profitably, and has distribution across more than 20,000 retail outlets and around 50 branded stores throughout Europe, the United States, Japan, and Australia.
The funding arrives during waterdrop’s tenth anniversary year and follows a series of global sports partnerships, including serving as the Official Bottle Partner of the Australian Open for the third consecutive year and becoming a Gold Partner of the ATP Tour.
According to the company, the new capital will primarily support European expansion efforts, including scaling retail operations, strengthening regional teams, and expanding direct-to-consumer capabilities. The investment will also support new product development and strategic collaborations, including a recently announced partnership with Ricola focused on herbal hydration products.
Aspeya said the investment aligns with its strategy of backing companies shaping the future of consumer wellness. Atlantic Grupa, which already distributes waterdrop products across Austria, Croatia, Serbia, and Slovenia, deepened its relationship through a double-digit million euro investment and secured a seat on the company’s Investment Committee.
waterdrop said it is also launching the largest marketing campaign in its history, spanning out-of-home advertising, digital campaigns, live activations, and ATP Tour-related promotions across Europe as it prepares to introduce additional flavors and product innovations throughout the year.
KEY QUOTES:
“We have spent ten years building something we genuinely believe in – a brand that makes it easier and more enjoyable for people to drink more water, and a business that has earned the right to grow. Aspeya and Atlantic Grupa bring the strategic depth, the distribution reach, and the long-term conviction that this next chapter demands. We are profitable, we are growing, and with these partners behind us, we are ready to move faster – and go further – than ever before.”
Martin Murray, Founder & CEO, waterdrop
“waterdrop® has done something rare – it has created a category, built a loyal global community, and reached profitability without compromising on its mission. Aspeya was created to back companies that are genuinely shaping the future of consumer wellness, and waterdrop® is among the most compelling we have encountered. We are proud to be part of this next chapter.”
Michael Kunst, CEO, Aspeya
“We have seen waterdrop® grow up close. The brand resonates deeply with European consumers and reflects the trends and shared goals: premiumiation, functional hydration, and an uncompromising standard of taste. This investment reflects our conviction in waterdrop’s long-term potential and our commitment to growing it together across Europe and beyond.”
Lada Tedeschi Fiorio, Group Vice President, Corporate Strategy and Investments, Atlantic Grupa
