The cult-favorite sparkling water brand doubled its sales last year. Is that enough for a home-run exit?

BY TOM FOSTER, EDITOR-AT-LARGE, INC. @TOMFOSTER2

A grocery store in Miami. Photo: Getty Images

In the sparkling-water wars of the past decade, few brands have carved an identity for themselves as clearly as Aura Bora, the six-year-old brand founded in San Francisco by husband-and-wife team Paul and Maddie Voge. And few brands have navigated the difficult CPG fundraising environment of the past two years as confidently as Aura Bora, which managed to raise $22 million from investors between 2019 and 2024.

So it shouldn’t be surprising that a larger company has come along and acquired Aura Bora. Inc. has learned that

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