What is Upexi?
Upexi, Inc., formerly Grove, Inc., is a brand owner headquartered in Tampa, Florida, established in 2018. The company specializes in the development, manufacturing, and distribution of consumer products spanning pet care, surgical and recovery aids, skin care, beauty, health, and wellness markets. Upexi operates under distinct brand names including Cure Mashrooms, Lucky Tail, and PRAX. Its go-to-market strategy involves a multi-channel approach, utilizing direct-to-consumer sales, wholesale partnerships, and major third-party e-commerce platforms to reach a broad customer base.
How much funding has Upexi raised?
Upexi has raised a total of $1.1B across 8 funding rounds:
Debt
$16.5M
Multiple Rounds
$1B
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
Private Equity (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
Key Investors in Upexi
AGP Canada Investments ULC
AGP Canada Investments ULC is an investment banking and capital markets firm that focuses on capital raises for middle-market companies, offering global transaction management.
Delphi Ventures
Delphi Ventures is a venture capital firm with a two-decade focus on early-stage investments in medical devices and biotechnology, having funded over 150 companies.
Anagram International
Anagram International, a subsidiary of Amscan, Inc., is a leading innovator in foil balloon manufacturing, known for its extensive portfolio of licensed products and innovative balloon designs.
What's next for Upexi?
With substantial enterprise-level backing and a recent strategic investment, Upexi is poised for accelerated growth. The company's focus on diverse consumer markets, from pet products to wellness, provides a robust foundation for scaling operations and expanding its brand portfolio. Future strategic initiatives will likely involve enhancing manufacturing capabilities, broadening distribution networks, and potentially exploring new product lines or acquisitions to capitalize on emerging consumer trends. The significant capital raised indicates investor confidence in Upexi's business model and its capacity to capture market share in competitive sectors.
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