Following PepsiCo’s $3.06 billion acquisition of US prebiotic soda brand Poppi, Melbourne better-for-you soft drink brand bobby has launched an equity crowdfunding raise to unlock its next stage of growth.

The move follows more than $8.2 million in lifetime revenue for bobby and national distribution across more than 3000 retail locations including Coles, Woolworths Metro and Harris Farm.

PepsiCo’s US deal and bobby’s capital raise both point to the same shift, soft drinks that sit between traditional full sugar soft drinks and niche health drinks are becoming the next battleground for major beverage companies. Industry attention is moving toward products that champion nostalgia with corner store classics that are full of flavour while reducing sugar and adding functional ingredients.

Founded by Kristian Johannsen, whose background spans consumer brands including Barbie, Hot Wheels, Piping Hot and Minor Figures, bobby has recorded compound annual growth above 220% since FY22. Year to date revenue has reached approximately $3 million compared with $1.5 million in the prior corresponding period, as the company operates across Australia’s $4.1 billion soft drink market and the faster growing functional beverage segment forecast to reach around $791 million by FY27.

The business has built national distribution while investing materially below category marketing benchmarks, a dynamic Johannsen says the raise is designed to address.

Johannsen said: “We have proven demand and built more than 3000 stockists while spending roughly 4% of revenue on marketing, compared with category norms closer to 12%,.

“This raise allows us to invest at the level expected in FMCG and accelerate visibility in a segment that is already shifting.”

Consumption patterns are moving in parallel. The share of Australians consuming sugary soft drinks has fallen from almost 50% in the mid 1990s to about 28.9% today, while functional beverages are expanding at roughly four times the rate of traditional soft drinks, reflecting broader moderation and ingredient transparency trends influencing everyday drink choices.

bobby’s product range spans 12 nostalgic soft drink flavours including Creamy Soda, Cola, Ginger Beer and Passion Fruit, formulated using lower sugar, plant derived sweeteners and a prebiotic fibre layer. The positioning targets what industry observers describe as the emerging middle ground between full sugar soft drinks and zero sugar replicas.

The Poppi acquisition reframed better for you soft drinks from a niche wellness play into a category with credible exit pathways, something founders and investors in Australia are now watching closely. Bobby General Manager Liam Dodds said Australia typically follows US beverage cycles with a lag.

“The Poppi deal signalled that better for you soft drinks have moved from emerging trend to strategic category,” he said. “We believe Australia is entering that scaling phase locally and we are positioned early with distribution, brand recognition and product market fit already established.”

Funds raised through the OnMarket campaign will be directed toward marketing expansion, retail trade spend, product development, key hires and wholesale growth as the company deepens national distribution and explores adjacent product innovation.

Learn more about the investment offer here.