Everyone now and then, we stumble upon a strange product that’s somehow attracting multiple celebrities’ money, and we have to stop, look, and ask, “What in the world is going on?”
This time, it’s DripDrop, a medical-grade rehydration solution, which has just scooped up a nice $5.6 million in funding from a bevy of stars, including rock musician Sammy Hagar, Bob Weir of rock band the Grateful Dead, musician Joe Satriani, funds connected to the San Francisco 49ers’ owners, and Brook and Seth Taube of Medley Corporation.
Developed by San Francisco physician Dr. Eduardo Dolhun, DripDrop is a powder with a special combination of salts, sugar, and other ingredients, that aims to enhance the nutritional effects of water to combat dehydration. Oral rehydration solutions are often used in areas of the world where clean water is scarce and people are at higher risks of dehydration (NGOs have been making those available for a long time), and in hospital care.
Oral rehydration solutions like DripDrop can also be useful in sports, especially for professional or college athletes, who spend multiple hours per day training and dehydrating their bodies. DripDrop has two to three times the amount of electrolytes of a sports drink, as well as half the calories and no artificial colors, flavors, or preservatives. DripDrop also says that its product has a pleasant taste, much like that of sports drinks. The investment from the 49ers’ owners’ funds is, therefore, no surprise, considering the benefits the football could get from a close relationship with the company and its product.
“We are pleased to support DripDrop, a Bay Area company, in their efforts to speed the delivery of this unique product to multiple audiences,” said Brano Perkovich, managing director of Aurum Partners LLC, a fund associated with the 49ers’ owners, in a statement.
“As owners and managers of a prominent sports franchise, we are able to quickly recognize the potential for this investment.”
The company will use the new funds to continue expanding into retail pharmacies and hospitals nationally, and DripDrop will announce new retail partners in the coming weeks.
DripDrop was founded 2010 by Dolhun, and is based in San Francisco. The company previously raised about $11 million and has a post-money valuation of $22 million, according to what chief executive Doug Wolfe told the Wall Street Journal.