Drinks startup HOPR overcomes the ‘near impossible’ to raise $3m amid effervescent growth

Non-alcoholic beverage company HOPR has overcome the “near impossible” by closing a capital raise of more than $3 million in the largest funding round for an Australian beverage company this year.

HOPR, which was founded by Jose Ramirez in 2020 during the height of pandemic lockdowns, has been backed by international groups, professional athletes, finance professionals and long-time fans who have followed the brand since inception.

Among supporters of the capital raise are cornerstone investor John Bromley, a high-profile New Zealand consumer goods executive, Sue Read, a former Matildas goalkeeper, and Chris Titley, a former Morgans broker and host of the Scoreboard podcast.

The Sydney-based HOPR says its $3 million funding round has outpaced the crowdfunding campaigns by Prohibition Liquor Co, which raised $2.69 million, and TWØBAYS Brewing Co, which raised $2.65 million.

The HOPR raise was led by sophisticated investors which HOPR says signals “deeper confidence in the company’s fundamentals and growth trajectory”.

“Every VC said no,” says Ramirez. “So, I bet on myself - and our community.”

Ramirez also points out that raising capital for a consumer product in Australia is “nearly impossible.”

“The VC scene here is built for software, fintech, AI - not fizzy drinks,” he says.

“Investors want ‘high margins, low ops’. But building a beverage brand means logistics, manufacturing, distribution - real product stuff.”

Ramirez says rejection became normal, until community support turned the tide.

“We sent decks everywhere,” he says.

“Most said ‘too early, too operational, not scalable enough’. Others liked the brand but still didn’t invest in drinks. The turning point was our community.”

HOPR produces a range of sparkling waters made with hops, adaptogens and nootropics which the company says provide a healthier option to unwind.

Ramirez struck on the idea when he reached for a beer late at night during the 2020 lockdowns. At the time, he noted that he hadn't been drinking at all that day or night but suddenly felt the urge to drink.

"I've had family and friends pass away from alcohol-related issues and I freaked out in that moment,” says Ramirez. “I wondered if I had a problem.”

That set Ramirez on the path to create HOPR, a hop-infused beverage designed to replace the “mind-numbing habit of drinking” with one that restores and refocuses.

Working nights in his kitchen, Ramirez spent months testing blends of hops, adaptogens and nootropics, eventually perfecting a drink that could help people relax without the “next-day fog”.

By 2022, his side project had become a fast-growing brand that was stocked in grocery stores and bottle shops around the country.

Ramirez says the support secured through the capital raise is testament to his faith in the HOPR mission.

“This isn’t just about money; it’s proof that if you believe in what you’re building, momentum will follow,” he says.

“For every founder making something tangible: keep going, even if they all say no.”

Cornerstone investor Bromley agrees Ramirez’s drive is among the reasons he backed the capital raise.

“He is arguably the most impressive young entrepreneur I have ever met with a unique mix of skills and an unbelievable work ethic,” says Bromley.

“Add the exciting product concept, and my decision to invest was a no-brainer.”

HOPR’s revenue has grown tenfold over the past two years, with the company noting that monthly sales continue to climb.

“The outstanding revenue growth has exceeded my best expectations, and I am a very happy and excited investor,” says Bromley.

Funds from the capital raise will be used to scale production, expand distribution and grow the brand’s presence across Australia.

To meet rising demand, HOPR has relocated to a facility almost three times the size of its previous warehouse, marking its sixth move in just two years.

The company is also investing heavily in sales and marketing to accelerate national retail partnerships and boost HOPR’s presence in bottle shops and grocery stores.

HOPR says it is leveraging growth in the “better-for-you” beverage category as more consumers move away from alcohol and sugar-loaded energy drinks.

“As a former athlete staying healthy is important to me as having fun,” says Read, who is a psychologist as well as a former Matildas alumni.

“HOPR helped me feel I could still have a ‘special’ drink in the evening and get the benefits of the relaxing ingredients.

“HOPR aligns with my values around healthy living and feeling good each day.

“I wrote to Jose, the owner, 18 months ago asking if I could invest in his company. I am excited to invest in a brand that gives people healthy living options.”

Ramirez says Australia’s cultural shift away from heavy drinking has created a perfect storm for HOPR’s rise.

“People want balance - they just haven’t had the right products to support it,” he says. “Now they do.”