British canned water brand Drip Water has secured as £4m investment from Middle Eastern investment conglomerate Raya Holding.
The deal with the Egypt-headquartered Raya Holdings values Drip at £100m. It was led by Mohammed Bin Sultan Bin Khalifa Al Nahyan, president of the United Arab Emirates.
The investment would “pave the way for the brand launch across the entire Middle East region,” the water brand said.
Drip would now move forward with plans to develop a “canning facility and central distribution hub” in the region, it added.
“Raya Holding’s new equity stake will be key in our expansion in the region and beyond,” said Luke Davis, co-founder of Drip Water. “Together, we’ll leverage access and insight in the Middle East to help Drip grow its business on a global scale and reach more consumers than ever before.”
Founded in 2023, Drip Water produces canned still and sparkling water sourced from England’s South Downs. British TV chef and musician Big Zuu is a co-founder and partner in the brand.
In February, the brand sealed its national grocery debut with Morrisons. It is also stocked in Iceland.
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