Mayawell, a maker of agave-based prebiotic sodas, will look to raise between $5 million and $7.5 million from institutional investors next year, CEO Oliver Shuttlesworth tells Axios.
Why it's the BFD: The functional beverage category was valued at $109 billion in 2020 and is expected to grow at a CAGR of 6% between 2022 and 2032, according to Future Market Insights, with startups such as Olipop and Koia successfully raising rounds this year.
