Danone Manifesto Ventures has acquired a minor stake in the Hawaii-based bottled water company Kona Deep.

The firm took part in Kona Deep’s $5.5m financing round alongside Grand Crossing Capital and local investors in Hawaii.

Kona Deep produces water products from ocean water sourced 3,000ft below the surface in Kona, Hawaii.

Kona Deep’s sustainable business agenda is aligned with Danone’s ‘One Planet, One Health’ strategic vision.

“Kona Deep produces water products from ocean water sourced 3,000ft below the surface in Kona, Hawaii.”

Kona Deep plans to use this investment to support growth initiatives by expanding its distribution network, as well as increase and optimise its production capacity.

After launching in Hawaii in late 2015, Kona Deep expanded its footprint in the US mainland where the demand for premium water is growing.

Currently, Kona Deep sells its products across grocery and natural food stores in the country.

Established in 2016, Danone Manifesto Ventures primarily invests and supports innovative food and beverages companies.

Through its Danone Manifesto Ventures, Danone makes investments and provides financial and operational support to its portfolio companies.

Danone Manifesto Ventures has completed several investments so far, including Yooji and Michel et Augustin in France, as well as Farmer’s Fridge and AccelFoods in the US.