$6.25 million first close filed by water cooler developer Bevi


XDATA – December 1st 2015
$6.25 million was raised by Bevi according to information filed with the SEC. The company initiated a first close after selling 96% of its planned $6.5 million unregistered private offering. The non-brokered equity securities started to be sold to five investors on November 17th. The equity offering’s estimated net proceeds will amount to $6.25 million which excludes $255,000 to be paid toward officers’ salaries. Until this disclosure Bevi had raised an estimated $1.98 million in unregistered securities via one previous financing round.
Bevi markets and develops a smart water cooler that helps employees create their own flavored and sparkling drinks.
Sean Grundy (CEO) leads the Boston MA based company which was registered in 2013. Bevi elected to keep its revenues undisclosed.
The executive team includes Elizabeth Becton.
The board of directors includes Christopher Lai and David J Bates.

The company has raised an estimated total of $8.23 million via private unregistered security offerings.

Bevi is registered under the name Hydration Labs.

Offering recap
Status: First close
Company: Bevi
Industry: Other Technology
Amount offered: $6.5 million
Amount placed: $6.25 million
SEC filing: Source
First sale: 11-17-2015
Data as of: 12-01-2015
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