OLIPOP Raises $200 Million Following M&A Discussions Amid Growing Modern Soda Market

OLIPOP is raising $200 million after M&A discussions ended without a deal, according to people familiar with the matter, following its prior $50 million raise at a $1.85 billion valuation in February 2025. The move comes as the modern soda category continues its rapid expansion, with sales up 46% to $1.7 billion in 2025 and another 24% growth year-to-date, according to Circana. Investor appetite in the space remains active, with recent deals including Vanterra Ventures leading Cove Soda’s $15 million Series A, alongside additional fundraising from brands like Stiller’s Soda, Something & Nothing, and Living Things. FOUNDER: Ben Goodwin & David Lester AMOUNT: $200,000,000 HQ: Oakland, California #VentureCapital #OLIPOP #BenGoodwin #DavidLester #Traded