Davidson-based startup Boomerang Water plans to implement some expansion moves after recently closing an $11.6 million funding round, according to a U.S. Securities and Exchange Commission filing.
Boomerang Water, founded in 2020, serves as a bottling and delivery service that sanitizes, fills and caps sustainable and reusable glass and aluminum bottles with ultra-pure water. Its latest funding round was led by one strategic equity partner who was not disclosed, according to the filing.
The startup aims to use the funds to help meet the growing demand for its sustainable hydration solutions, Jerrod Freund, co-founder at Boomerang Water, told CBJ. He said the company is achieving that by consolidating its operations into a larger corporate headquarters campus in the Charlotte region. Boomerang did not disclose the location.
"This strategic move will enhance our operational efficiency," he said.
Its current office sits in Davidson at 210 Delburg St. The company plans to maintain that location, Freund confirmed.
Boomerang Water will also use the new capital to build additional bottling systems that take six glass or aluminum bottles at a time and, in just a few seconds, power washes, sanitizes, fills and caps them.
The company will expand its current team of 15 employees, with plans of doubling that number within the next year, Freund said.
The funding round comes after Boomerang Water announced last September its partnership with Ball Corp. (NYSE: BALL), an international aluminum beverage packager and supplier. Through that alliance, Colorado-based Ball — one of three companies working on a $1 billion-plus beverage hub in Concord — supplies its aluminum bottles for the Boomerang bottling system.
The startup's services are ideal for venues where the bottles can be returned easily such as resorts, cruise ships, convention centers, corporate and university campuses, military and government bases, and industrial and manufacturing facilities.
Aluminum is both economically valuable and environmentally effective. It can be recycled endlessly without loss of material. Through the Ball-Boomerang alliance, the aluminum water bottles can be reused and turned into new bottles within 60 days.
