What is Upexi?
Headquartered in Tampa, Florida, Upexi, Inc. operates as a multifaceted brand owner and distributor. The company manages a diverse array of consumer products, including specialized offerings under the Cure Mashrooms, Lucky Tail, and PRAX brand names. Since its rebranding from Grove, Inc. in 2022, Upexi has focused on capturing market share in the pet, surgery, recovery, skin, beauty, health, and wellness sectors.
The company's business model is built upon a robust omnichannel approach, integrating direct-to-consumer networks with strategic wholesale partnerships and major third-party platforms. This operational structure allows Upexi to maintain agility in a competitive retail landscape while continuously optimizing its supply chain and manufacturing processes to meet evolving consumer demands.
How much funding has Upexi raised?
Upexi has raised a total of $1.1B across 9 funding rounds:
Debt
$16.5M
Multiple Rounds
$1B
Stock/Share Issuance
$19.5M
Debt (2022): $16.5M, investors not publicly disclosed
Other Financing Round (2025): $100M led by Delphi Ventures, Anagram International, and Big Brain Creation
Stock/Share Issuance (2025): $200M, investors not publicly disclosed
Debt (2025): $500M featuring AGP Canada Investments ULC
Stock/Share Issuance (2025): $200M, investors not publicly disclosed
Stock/Share Issuance (2025): $23M, investors not publicly disclosed
Stock/Share Issuance (2025): $10M, investors not publicly disclosed
Stock/Share Issuance (2025): $10M, investors not publicly disclosed
Stock/Share Issuance (2026): $19.5M, investors not publicly disclosed
Key Investors in Upexi
AGP Canada Investments ULC
A.G.P. Canada Investments ULC specializes in investment banking and capital markets services, focusing on capital raises for public and private companies in the middle market.
Delphi Ventures
Delphi Ventures is a venture capital firm that has focused on early stage investing in medical devices and biotechnology for two decades.
Big Brain Creation
Big Brain Creation is an award-winning web design and development company that offers a comprehensive range of services including digital marketing, branding, and video production.
What's next for Upexi?
With the recent influx of capital, Upexi is positioned to transition into a more mature phase of enterprise-level scaling. The strategic focus will likely shift toward deepening market penetration for its core brands and potentially exploring inorganic growth opportunities through targeted acquisitions. By maintaining a disciplined approach to capital allocation, the company aims to leverage its existing infrastructure to drive operational efficiencies and improve margins.
Investors will be closely monitoring Upexi's ability to convert this recent financing into sustainable revenue growth. As the company continues to refine its product offerings and expand its global footprint, the emphasis will remain on maintaining brand equity and navigating the complexities of the health and wellness markets to deliver long-term shareholder value.
