Flo Water, Inc., successfully closed a $750,000 equity offering from five investors. Flo Water was originally founded in August 2010 and converted in a Delaware corporation early this month following the financing.
The company’s purpose is the distribution and operation of water vending machines as well as the distribution and sale of reusable water bottles. The goal of Wyatt Taubman, the founder, is to provide an alternative to plastic water bottle usage and curb pollution. The “bring your own bottle”* vending machines use municipal tap water that goes through a proprietary six stage purification system and is held in tanks that are sterilized every eight hours.
The “quick refill” vending machines offer a choice of standard refill sizes as well as an adjustable temperature settings of 40°F, 43°F, 46°F, and 50°F. A 17 ounces refill costs 25 cents, 25 ounces 35 cents and 34 ounces 50 cents.