myDropz closes its CHF 2.5 m seed financing round led by Oyster Bay
myDropz has closed a series seed financing round of approximately CHF 2.5 million additional funding. The round was led by Oyster Bay Venture Capital, a venture capital firm with a focus on healthy, sustainable and functional food and beverage companies as well as disruptive ag-tech companies. The existing investors, such as Zurich-based Backbone Ventures, also participated in the round.
Launched in early 2021, myDropz is a Swiss startup that produces small aroma beads from pressed fruits and herbs to add flavor to tap water. Through a collaboration with the Swiss foundation GoReclaim and the collection site rePATRN, every purchase at myDropz contributes to plastic being collected from the ocean and turned into accessories.
According to myDropz founder Zafar Hasher, the Aargau-based start-up will invest the proceeds from the financing round mainly in product development and in building up the company.
The advisors
Walder Wyss comprehensively advised myDropz in this financing round. The team was led by Christian Lütolf (managing associate, corporate/m&a, pictured left) and Florian Gunz Niedermann (partner, corporate/m&a, pictured right) and included Simone Wetzstein (managing associate, employment) and Dominik Aerni (associate, corporate/m&a).
Niederer Kraft Frey advised Oyster Bay Venture Capital. The NKF team was led by Patrik Peyer (partner, m&a/corporate, pictured), working with Alexander Göbel (associate, m&a/corporate).
