Danone Manifesto Ventures has bought a minority stake in the Hawaii-based company Kona Deep. Kona Deep is creating a new category of premium water with its unique deep ocean water, sourced 3,000 feet below ocean surface in Kona, Hawaii, from a pure source containing natural minerals. The investment in Kona Deep, for an undisclosed sum, is the fifth in a year for Danone Manifesto Ventures, a fund the French food giant set up last year.

Aligned with Danone’s One Planet. One Health strategic vision, Kona Deep shares Danone’s sustainable business agenda and vision of bringing consumers great tasting water with compelling hydration benefits.

After launching in Hawaii in late 2015, Kona Deep has recently expanded onto the US mainland where the demand for premium waters and performance waters is growing rapidly. Hawaiian deep ocean water offers consumers both the purity of a trusted natural source and the benefits of naturally occurring deep ocean electrolytes. Kona Deep is sold primarily in leading grocery and natural food stores.

Danone Manifesto Ventures participated in Kona Deep’s US$5.5 million financing round alongside Grand Crossing Capital and local Hawaiian investors.

Kona Deep intends to use the investment to support growth initiatives by expanding distribution, increasing and optimizing production capacity and raising awareness for the Kona Deep ocean water. Kona Deep’s management team, led by CEO Patrick Turpin, will leverage Danone Manifesto Ventures’ resources and expertise, to capitalize on the opportunities ahead.

Danone Manifesto Ventures is the corporate venture unit of Danone. It was created in 2016 to invest in early stage, disruptive food and beverage, and food technology companies. Danone Manifesto Ventures partners with companies that share its vision of a healthy and sustainable future of food and leverages its experience to support its partners’ growth as a collaborative investor .