Naked Rivals sells frozen, portioned lemon and lime juice cubes made from 'ugly' citrus that would otherwise be discarded. The brand was developed by Sydney husband-and-wife founders Andrew and Kate Gordon beginning in October 2022 and launched in February 2024. Despite the recent launch, the product is already stocked in about 1,600 supermarket stores across Australia, including Coles, Woolworths and IGA. The founders initially bootstrapped the business, leveraging their mortgage, and have won category awards such as Best Beverage Product at the Naturally Good Awards and the Healthy Food Guide Specialist Product award. They raised $3 million from angel investors and plan to use the funds to scale the product range, drive manufacturing efficiencies and develop additional convenience-focused, sustainable food products. Management is pursuing domestic retail expansion, talks with global distributors and FMCG brands, and exploring food-service channels and exports, with a stated ambition to build the business to $120 million in annual revenue.

Total raised

$3M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2024