XED Beverage Company Raises $4.5 Million in Seed Round, backed by industry leaders
NEW YORK, July 12, 2021 /PRNewswire/ -- XED Beverage Company (XED), the new future-focused beverage company, has announced the completion of its second seed round of funding, totaling investments of $4.5 million raised just this past year. This funding will be used to grow XED’s flagship brand SESH and launch XED’s second disruptive brand, which is currently in stealth mode.
Founded by Zeke Bronfman and Nate Medow, best friends and former college roommates, XED was conceived as the antidote to what the two young entrepreneurs identified as lacking in the alcohol industry. Bronfman, carrying on his family legacy of spirits titans Samuel Bronfman and Edgar Bronfman Sr. of Seagram’s fame, developed a refined taste for beverages early on and yearned to craft a beverage with authentic and robust flavor. Medow, a star athlete and Type 1 diabetic, needed alternatives to beer and cocktails without the sugar, carbs or calories. Nate and Zeke realized there was nothing on the market that combined the rich flavor they wanted in the better for you format they needed. So, they started mixing in their dorm room until they created delicious cocktails with zero sugar and all-natural ingredients. SESH: Cocktail Meets Seltzer was born, and XED Beverages began to build its platform to launch brands.
Additional investors include:
- Bob Hurst, Former Vice Chair & Head of Investment Banking at Goldman Sachs
- Edgar Bronfman, Former CEO of Seagram
- Ilan Sobel, Founder and COO of WeissBeerger
- Strauss Zelnick, Founder of Zelnick Media Capital, CEO of Take Two Interactive and Former CEO of BMG Entertainment
Randi Zuckerberg has also joined Edgar Bronfman, Strauss Zelnick, Barbara Bernstein, Dan Schwab, Adam Zoia, Steven Edelson, Susan Greene and several others on XED’s Board of Advisors. SESH is currently on shelves in New York, New Jersey, Illinois and Ohio, and is also available direct-to-consumer across 36 states at www.drinksesh.com.
Additionally, XED Beverage Company has also expanded its Board of Directors, which now includes Jared Kash, Managing Partner of Surround Ventures, and DisPact Ventures’ Andrew Merinoff, along with Bronfman and Medow.
“We are incredibly honored to receive the support of so many industry leaders,” say Zeke Bronfman and Nate Medow. “XED is well-positioned to build a disruptive portfolio of brands. By creating next generation products that connect with our consumers across different occasions, we are inspired to ensure that people never have to compromise between great flavor and better for you ingredients.”
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SOURCE XED Beverages