Hibear receives co-investment from two local funds and is selected to participate in The YouTube Small Business Day
RENO, Nevada (June 24, 2021) – The Reno Seed Fund and FundNV announced a $150,000 pre-seed co-investment in local Reno startup, Hibear, makers of the “Swiss Army tool” of insulated bottles. After nearly three years of product refinement and a Kickstarter campaign that raised 10x its goal in the Fall of 2020, Hibear is now selling their versatile, insulated, easy-to-clean and rugged utility bottle designed to craft all your favorite beverages while also used as an everyday water bottle.
The company was also invited to partake in The YouTube Small Business Day, today, and will participate in the live shopping experience which will then be featured and promoted by YouTube.
“We are so very fortunate to have a supportive community and entrepreneur ecosystem here in Reno,” said Mark Tsigounis, Hibear Founder and CEO. “It has been an amazing ride so far and shows no sign of slowing down, especially when the whole city is pulling for you.”
“It’s great to see our Reno-Sparks startups getting local venture capital funding,” said Mike Kazmierski, President and CEO of EDAWN. “A few years ago we had to send our startups over the hill to Silicon Valley to find investors. Now we have an expanding investor ecosystem that is supporting our regional startups and giving them the capital they need to grow and become large players in their respective markets. With the outdoor adventurer culture we have here in Northern Nevada, I look forward to seeing people hitting our trails with their Hibear adventure flasks in hand.”
Hibear encourages people to pack less and do more. Makers of the Swiss Army tool of insulated bottles, the 32 ounce All-Day Adventure Flask has 10 times more functionality than the average insulated bottle. The AF crafts beverages from pourovers to cocktails with ease and style, supporting independent artists with every design. Nestled in the Sierra Nevada mountains, Hibear has a wild and beautiful testing ground for their products. Hibear is Climate Neutral Certified and a member of 1% for the Planet. Learn more at hibearoutdoors.com.
The Economic Development Authority of Western Nevada is a private/public partnership established in 1983 committed to adding quality jobs to the region by recruiting new companies, supporting the success of existing companies, and assisting newly forming companies, to diversify the economy and have a positive impact on the quality of life in Greater Reno-Sparks. Learn more at edawn.org.
About Reno Seed Fund
The Reno Seed Fund promotes and supports economic development in the region by investing in early-stage companies and emphasizing the Northern Nevada region and its local strengths. For more information, visit renoseedfund.com.
FundNV is a seed stage venture fund investing in companies accepted by the StartUpNV and AngelNV business incubation programs. FundNV focuses on doing well while doing good – teaching new and experienced accredited investors how to be effective investors with investment choices from the strongest early stage deal pipeline in Nevada. Learn more at fundnv.com.
Katie Freeman, EDAWN
Manager of Entrepreneurial Development