Navigation Links
Hydration startup Drip Drop Inc. raises 2.3 million in just 10 days
Date:7/12/2013

SAN FRANCISCO, July 12, 2013 /PRNewswire/ -- Only 10 days after announcing a $3 million Series A-1 financing round, Drip Drop Inc., inventor of medical grade hydration products, has executed the initial close on $2.3 million from a group of investors led by Pacific Advantage Capital, with the round closing July 29th. New funds will be used to add key personnel and scale the company's operating infrastructure, supporting an expansion of leading hospital and pharmacy distribution. The close comes just weeks into Anne Kallin Zehren's tenure as CEO.

Drip Drop® is an innovative rehydration solution that combines best-in-class medical technology with great taste. Developed by Eduardo Dolhun MD, a Mayo trained physician and Stanford Adjunct Assistant Clinical Professor, Drip Drop's formula helps prevent dehydration, maintain electrolyte balance, and replenish fluids lost through illness or activity.  Tested worldwide in the most challenging circumstances, Drip Drop® has won early adoption by a broad spectrum of users that include the Stanford University Medical Center, UCSF Medical Center, elite athletes, U.S. Special Forces, humanitarian workers, pharmacists, and patients with chronic illness.

"This investment allows us to continue fast-tracking our work with the country's top medical institutions, retailers, and influencers," said Zehren, who started at Drip Drop in April. "It speaks volumes about Drip Drop's potential that 78% of this round came so quickly from our existing shareholders - a full 75% of them reinvested, with the vast majority increasing their investment level. In my 20 years as an executive, it's absolutely rare to find a startup with such promise at such an early stage."

"With Anne's leadership, the Drip Drop team is driving terrific performance," said David Zezza, partner at Pacific Advantage Capital. "Drip Drop has already made significant progress in critical sales channels and brand awareness.  A full year ahead of schedule, Drip Drop is better poised than ever to meet the pent-up demand for medical-grade hydration."

In the United States, where 75% of the population is chronically dehydrated, dehydration symptoms like fatigue and lack of focus account for $160 billion dollars lost to reduced productivity alone, according to narrow analysis by the CDC. Hospitalizations with dehydration as the primary diagnosis cost $5.5 billion every year. With admission costs rising above $16,000 for dehydration treatment (vs. $5 per use for Drip Drop), Drip Drop could lead to massive cost reductions.

Drip Drop's formula improves upon international standards for Oral Rehydration Therapy, a proven medical intervention that remains underutilized in the USA. Despite being described by Doctors Without Borders as "the most important medical advancement since penicillin," studies show that Americans are generally unaware of its benefits, relying instead on less effective sports drinks.  Oral Rehydration is recommended as a frontline dehydration treatment by the Centers for Disease Control (CDC), American Medical Association (AMA), American Association of Pediatrics (AAP), the World Health Organization  (WHO), and many others.

"I initially developed Drip Drop to meet the needs of my own patients," said Drip Drop founder Dr. Dolhun. "The broad adoption of Drip Drop nationwide has been both thrilling and humbling. I believe Drip Drop is the most advanced hydration you can get without a trip to the hospital, both in function and in taste - the latter of which has been a major barrier to the broad application of this crucial intervention. And what's so miraculous to me is that this formula that performs under extreme conditions is still safe and effective for moms, children, and seniors."

Drip Drop is currently available online and at select Walgreens pharmacies, hospitals, and premium resorts.

 


'/>"/>
SOURCE Drip Drop Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. RenovoRx Named Winner of 2013 TiE50 "Top Startup"
2. Immune Pharmaceuticals CEO to Chair BIO International Panel "Can Israel Become the Next Biotech Startup Nation?"
3. University of Michigans Zell Lurie Institute Awards $112,000 to Promising Student Startups in 30th Annual Business Plan Competition and Dare to Dream Grant Program
4. Midwest Health Care Startups Raise $511 Million in First Half of 2012
5. Midwest Health Care Startups Raise $491 Million in First Half of 2012
6. ViaCyte, Inc. raises $10.6 Million in a Private Financing to Support Clinical Development of its Cell Therapy Product for Insulin Dependent Diabetes
7. Acutus Medical, Inc. Raises $21 Million Toward its B-Series Financing
8. TVA Medical Raises $9.5 Million to Advance Minimally Invasive Therapy for End-Stage Renal Disease
9. Protagonist Therapeutics Raises $14 Million in Series B Venture Financing
10. AMRI Announces First Quarter 2013 Results and Raises EPS Guidance for the Year
11. NeuroPhage, Inc. Raises $6.4 Million In Additional Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... FRANCISCO, Calif. , June 24, 2016 /PRNewswire/ ... ), a biopharmaceutical company developing novel therapeutics for ... unmet needs, today announced the closing of its ... of common stock, at the public offering price ... in the offering were offered by GBT. GBT ...
(Date:6/24/2016)... , June 24, 2016 The Academy of ... recommendations that would allow biopharmaceutical companies to ... entities that make formulary and coverage decisions, a move ... of new medicines. The recommendations address restrictions ... appear on the drug label, a prohibition that hinders ...
(Date:6/24/2016)... -- According to a new market research ... Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, ... Purchase (Retail, Non-Retail) - Trends & Global Forecasts to ... for the forecast period of 2016 to 2021. This ... 2021 from USD 1.65 Billion in 2016, growing at ...
Breaking Medicine Technology:
(Date:6/24/2016)... ... ... a crisis. Her son James, eight, was out of control. Prone to extreme mood shifts ... upset him, he couldn’t control his emotions,” remembers Marcy. “If there was a knife ... and say he was going to kill them. If we were driving on the ...
(Date:6/24/2016)... ... 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 ... by their peers for this recognition are considered among the top 2 percent of ... honors as members of this year’s Legal Elite Hall of Fame: Miami Shareholders ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Comfort Keepers® ... American Cancer Society and the Road To Recovery® program to drive cancer patients to ... and other adults to ensure the highest quality of life and ongoing independence. ...
(Date:6/24/2016)... ... 2016 , ... People across the U.S. are sharpening their pencils and honing ... contest in which patients and their families pay tribute to a genetic counselor by ... Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. , In ...
(Date:6/24/2016)... ... 24, 2016 , ... The Haute Beauty Network, affiliated with ... as a prominent plastic surgeon and the network’s newest partner. , Dr. ... handsome men, look naturally attractive. Plastic surgery should be invisible.” He stands by ...
Breaking Medicine News(10 mins):