The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Bravo, which sells products that harvest water from air, is out to increase its sales through e-commerce as it seeks new business to turn around its financial losses.
Bravo Enterprises Ltd., a financially struggling manufacturer and distributor of “atmospheric water harvesting” products that condense water from air, is seeking to expand its sales through e-commerce with new distribution agreements.
“As we grow our distribution channels, more and more people will have easier access to the life-essential commodity known as water," Bravo president Jaclyn Cruz says. Bravo announced yesterday that it will distribute products through e-commerce companies US Water Systems Inc., which sells through USWaterSystems.com, and Eartheasy, which operates Eartheasy.com and sells products for homes.
US Water Systems sells to commercial and industrial customers, including research laboratories and health care organizations, as well as to consumers.
Bravo’s Airwell 3000 product, which is designed to produce up to 3,000 gallons of drinking water daily, is typically used in military facilities and in disaster relief operations where fresh drinking water of scarce or unavailable. They’re also used in commercial operations such as beverage and food manufacturing facilities, and remotely located schools, hospitals, schools and other institutions.
The company’s AirMax 3000 product is a relatively small model that produces up to eight gallons of drinking water per day and is designed for offices and homes.
For Bravo’s third quarter of 2013, the latest period for which it reported financial numbers, the company had a net loss of $86,061 on revenue of $3,500, according to a statement filed with the U.S. Securities and Exchange Commission. It also notes in that statement that, between Jan. 1, 1996, and Sept. 30, 2013, it has produced total revenue of $5,034 and amassed a total net loss of $21.09 million.
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