Never Mind Supermarkets, Zak Normandin Says The Future Of Beverage Is On Your Phone

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Never Mind Supermarkets, Zak Normandin Says The Future Of Beverage Is On Your Phone
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Never mind supermarkets, entrepreneur Zak Normandin says the future of beverage is on your phone by chloesorvino

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“The entire market is going to become completely fragmented in beverage,” he says from his Soho office. “You’re going to have categories pop up that people didn’t know about before. It’s not going to be as straightforward as you have carbonated soft drinks, teas and waters.” Normandin renamed the parent company Iris Nova last year, raising $15 million in seed capital in a funding round led by Coca-Cola North America’s Venturing and Emerging Brands unit. It also acquired Poncho, a machine-learning based chatbot startup that was originally built for communicating weather updates in a conversational way. The challenge he faces now is proving it can scale beyond one specialty brand.

So far, the funds used to invest in these startups have come from Iris Nova’s seed round. At the time, Normandin set aside $1 million. Sources close to the company now say it is nearing a deal to close a new $5 million round, which would mainly fund the venture arm.

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