Sydney-based ‘functional’ drink maker HOPR, founded by Jose Ramirez, has closed an over $3 million equity round, marking the largest beverage capital raise in Australia this year. The raise is notable not just for its size, but because it was completed without venture capital backing after the founder, Jose Ramirez, says, "Every VC said no".

HOPR landed 24th on the AFR Fast Starters list for 2025, with a CAGR between FY23-25 of 466.59%.

The seed round, which has outpaced crowd-funded efforts by brands like Prohibition Liquor Co. ($2.69 million) and TWØBAYS Brewing Co. ($2.65 million), both of which raised via OnMarket, was advised by boutique advisory firm TWIYO.

Ramirez, who spent months developing the hop-infused beverage in his kitchen after a personal moment of concern about his drinking habits in 2020, highlighted the disconnect between local investors and physical products. He called raising capital for a consumer product in Australia "nearly impossible."

Rejection was initially "normal," with VCs often citing reasons like "too early, too operational, not scalable enough." However, the founder ultimately "bet on myself - and our community," which fueled the $3 million-plus round from international groups, professional athletes, finance professionals, and long-time fans.

The raise was led by sophisticated investors and brought together a mix of strategic backers. Cornerstone investor John Bromley from New Zealand with over 50 years of business experience, including senior FMCG marketing roles, former Matildas goalkeeper Sue Read, and finance personality Chris Titley, an ex-Morgans broker, all participated.

These investors saw the move as more than just a drink, but a "shift in how Australians recover, focus and unwind."

Sue Read (Matildas alumni and psychologist) noted the product "helped me feel I could still have a 'special' drink in the evening and get the benefits of the relaxing ingredients. HOPR aligns with my values around healthy living and feeling good each day."

The company reports it has grown over 10x over the past two years. The new capital will be used to scale production, expand distribution, and deepen brand presence across Australia.

To meet demand, HOPR has already moved to a facility almost three times the size of its previous warehouse, its sixth move in just two years. The company is also investing heavily in sales and marketing to accelerate national retail partnerships in bottle shops and grocery stores, alongside expanding the sales and operations team.

This move is well-timed with a global shift as the "better-for-you" beverage category surges, with consumers increasingly moving away from alcohol and sugar-loaded energy drinks. Analysts project sustained double-digit growth for functional beverages that combine health benefits with social appeal.

Ramirez asserts that Australia's cultural shift away from heavy drinking has created a "perfect storm for HOPR's rise." He concluded with a message to other founders of tangible products: "This isn't just about money. It's proof that if you believe in what you're building, momentum will follow. For every founder making something tangible: keep going. Even if they all say no."

HOPR's mission is now to help 1 million Aussies cut back on alcohol as it attempts to lead Australia's functional drinks movement.