CAPI

What CAPI does

CAPI is an Australian privately-held beverage company that produces premium sparkling mineral water, mixers, and natural sodas. The current brand was launched in 2011 by hospitality entrepreneur Pitzy Folk (with roots in 8 fruit sodas from 2008), and the company sources its mineral water from a deep protected aquifer within the ancient volcanic landscape of Victoria's Central Highlands near Kyneton, carbonating and pasteurizing the product without artificial preservatives. The portfolio comprises 23+ SKUs across waters, tonics made with real quinine, fruit sodas, classics such as Spicy Ginger Beer and Cola, and a growing low-sugar and Free Førm range, all bottled in glass with a 2023 transition to paper labels.

The company operates a multi-channel go-to-market: direct-to-consumer e-commerce via capi.com.au on Shopify; national retail distribution through 7,000+ stockists including Coles, Woolworths, Dan Murphy's, BWS, Liquorland, 7-Eleven, Amazon, IGA, and Vintage Cellars; on-premise hospitality sales (the brand's origin channel, including Andrew McConnell, Guy Grossi, QT Hotel, Hinchcliff House, Gimlet, and Raes On Wategos); and B2B wholesale partners (ALM, PFD Food Services, Bidfood, Winc, Paramount Liquor, Good Bar Trade, Brewing Brands, Fine Wine Wholesalers, and others). Revenue is generated through unit sales across these channels; pricing is not publicly disclosed and is set by individual retailers. Export operations to Asia commenced in 2015 and the 7-Eleven nationwide ranging was secured in 2020.

CAPI is 100% Australian, independently owned with no disclosed external institutional investment, and operates with a small team (11-50 employees) from its headquarters in Windsor, Victoria. Key differentiators include local provenance (water travels roughly 100 km from Kyneton to Melbourne versus 20,000 km for European imports), 97% Australian-sourced ingredients on average, use of real quinine in tonics, and a sustainability-led packaging strategy. The company is expanding its lower-sugar and Free Førm ready-to-drink lines and pursuing deeper premium hospitality co-branding as its primary growth vectors.

Name

CAPI

Legal name

CAPI

Website

https://capi.com.au

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

CAPI is an Australian premium beverage company producing sparkling mineral water, mixers, and natural sodas sourced from Victorian Highlands springs. Founded in 2011, it serves 7,000+ retailers, hospitality venues, and DTC consumers across Australia and Asia.

Ownership category

akta.pro rank

Product category

Premium Bottled Beverages

NAICS

Bottled Water Manufacturing (312112), Soft Drink Manufacturing (312111), Soft Drink and Ice Manufacturing (31211), Beverage Manufacturing (3121)

SIC

Bottled & Canned Soft Drinks & Carbonated Waters (2086), Beverages (2080)

akta.pro primary industry

Mineral Water Bottling (Naturally Mineral) (AFAFACAB)

akta.pro secondary industries

Bottled Water (Still, Sparkling, Enhanced) (CRADAHAC), Sparkling/Carbonated Bottled Water Production (AFAFACAE), Still Soft Drinks & Flavored Waters (Non-Carbonated) (AFAFABAB), Soft Drink & Carbonated Beverage Syrups (AFAFAGAA)

Keywords

• Premium mineral water
• Cocktail mixers
• Fruit sodas
• Bottled beverages
• Tonic water

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Direct-to-Consumer Sales: Online sales through CAPI e-commerce store (capi.com.au) with direct delivery to consumers across Australia.
2. Retail Distribution: Wholesale to major retailers including Coles, Woolworths, Dan Murphy's, BWS, Liquorland, Vintage Cellars, 7-Eleven, Amazon, IGA and Farmer Jacks stores.
3. On-Premise/Hospitality Sales: Sales to bars, restaurants, hotels and venues across Australia and Asia. Brand originated in hospitality sector.
4. Wholesale Distribution: Distribution through network of wholesalers including Good Bar Trade, Brewing Brands, Fine Wine Wholesalers, Winc, Bidfood, and others for on-premise and retail channels.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

CAPI sources and bottles premium sparkling and still mineral water from a protected aquifer in Victoria's Central Highlands, and produces a range of natural, preservative-free mixers, tonics, and fruit sodas. Products are sold through direct-to-consumer e-commerce, 7000+ retail and hospitality venues across Australia and Asia, and via wholesale distributor networks.

Product overview

CAPI is an Australian beverage company offering a portfolio of premium sparkling mineral waters, mixers, and flavoured sodas. The product range consists of four main categories: Waters (Sparkling and Still Mineral Water sourced from Victorian Central Highlands), Tonics (Classic Tonic, Dry Tonic, and Sunset Tonic made with real quinine), Fruit Sodas (Grapefruit, Blood Orange, Yuzu, Lemon, Cranberry, Charred Pineapple), and Classics (Spicy Ginger Beer, Cola, Soda, Dry Ginger Ale, Lemonade). Additionally, a Low Sugar line includes Low Sugar Grapefruit, Low Sugar Lime, and Free Førm reduced-sugar ready-to-drink style beverages. All products are all-natural, preservative-free, and bottled in glass with recyclable packaging. The company operates direct-to-consumer online sales alongside distribution through major Australian retailers and hospitality venues.

Differentiator

Problem solved

Functional benefit

Products and services

• Sparkling Mineral Water Premium sparkling mineral water sourced from a deep aquifer within an ancient volcano in Victoria's Central Highlands, carbonated for a crisp sparkling finish.
• Still Mineral Water Natural mineral water sourced from a protected aquifer in Victoria's Central Highlands with TDS of 360 mg/L.
• Classic Tonic Classic tonic water made with real quinine and natural flavours of lemon, lime and orange, designed to complement gin.
• Dry Tonic Dry tonic with a unique dry finish and 30% less sugar than regular tonic, allowing gin botanicals to shine.
• Sunset Tonic Citrus-forward tonic with grapefruit, blood orange and mandarin flavours, rounded out with pink lake salt, inspired by Australian sunsets.
• Grapefruit Soda Sparkling fruit soda with bright citrus tang and pink grapefruit juice, featuring bitter undertone balanced with subtle sweetness.
• Blood Orange Soda Sparkling fruit soda made with blood orange, delivering tangy citrus flavour.
• Yuzu Soda Japanese citrus fruit soda with bursts of sweet and sour flavour, likened to mandarin.
• Lemon Soda Smooth, balanced lemon soda using lemon juice with depth from natural grapefruit and lemon flavours.
• Cranberry Soda Clean and sparkling with tart, true cranberry finish, naturally flavoured without added colours.
• Charred Pineapple Soda Tropical fruit soda featuring charred pineapple flavour.
• Low Sugar Grapefruit Soda Low sugar grapefruit soda with less than 7gm sugar per serve, sweetened subtly with monk fruit extract.
• Low Sugar Lime Soda Low sugar lime soda with naturally lower sugar content and clean, crisp refreshment.
• Spicy Ginger Beer Ginger beer made with real ginger juice pressed from fresh ginger, featuring sediment and spicy profile.
• Cola Cola made with a blend of 11 spices including vanilla, kola nut, lime, orange, peppermint, lemon, ginger, clove, cassia, cinnamon and malt.
• Soda Water Purified, pH neutral carbonated soda water that mixes well without bringing flavour down.
• Dry Ginger Ale Dry ginger ale using ginger extract from root or peel for a bright and spicy classic ginger ale profile.
• Lemonade Clear lemonade delivering the familiar Australian lemonade taste profile.
• Free Førm Range (Reduced Sugar Spritz, G&T, Margarita) Reduced sugar ready-to-drink style sparkling beverages including Australian Spritz, G&T and Margarita variants from the Free Førm range.
• Flavoured Sparkling Waters (Blood Orange, Mango, Passionfruit) Flavoured sparkling mineral water variants (Blood Orange, Mango, Passionfruit) using extracts for natural flavour without the natural sugars of juice.
• Spicy Cola Cola variant with additional spice profile.

Quantifiable outcome

• 97% Australian ingredients on average across range
• +2 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered flagship, core and minor.

• Gimlet RestaurantflagshipStrategic or Co-development Partner · 1 January 2023Co-branded Sparkling Water partnership with Melbourne restaurant Gimlet, featuring custom designed product.
• Raes On WategosflagshipStrategic or Co-development Partner · 1 January 2023Custom designed Sparkling Water partnership with Byron Bay hotel Raes On Wategos.
• Good Bar TradecoreChannel Partner/ Reseller/ DistributorWholesale partner for on-premise and trade distribution across Australia.
• Brewing BrandscoreChannel Partner/ Reseller/ DistributorWholesale partner for distribution across Australia.
• Fine Wine WholesalerscoreChannel Partner/ Reseller/ DistributorWholesale partner for wine and beverage distribution.
• WinccoreChannel Partner/ Reseller/ DistributorWholesale distribution partner for beverages.
• BidfoodcoreChannel Partner/ Reseller/ DistributorMajor food and beverage wholesale distributor.
• Drink SceneminorChannel Partner/ Reseller/ DistributorBeverage wholesale partner.
• Paramount LiquorminorChannel Partner/ Reseller/ DistributorLiquor wholesale distribution partner.
• ALM (Australian Liquor Marketers)coreChannel Partner/ Reseller/ DistributorMajor liquor wholesale distribution network.
• PFD Food ServicescoreChannel Partner/ Reseller/ DistributorFood service wholesale distribution partner.
• Sun RoadminorChannel Partner/ Reseller/ DistributorWholesale distribution partner.
• ShawparthminorChannel Partner/ Reseller/ DistributorWholesale distribution partner.
• Nelson Wine CominorChannel Partner/ Reseller/ DistributorWine company wholesale distribution partner.
• Shopify Inc.coreTechnology or IntegrationE-commerce platform provider hosting the CAPI online store. Provides online sales infrastructure, payment processing (PCI-DSS compliant), and data storage.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Mount Franklin (Asahi Beverages): Australia's largest mainstream bottled water brand owned by Asahi. Competes with CAPI in the still and sparkling water category at the value tier across the same Coles/Woolworths/7-Eleven channels.
• Topo Chico (Coca-Cola): Mexican-origin premium sparkling mineral water now owned by Coca-Cola, widely stocked in hospitality venues as a mixer. Overlaps with CAPI on sparkling mineral water and as a bar/cocktail mixer, though backed by a global incumbent.
• Bundaberg Ginger Beer: Iconic Australian family-owned ginger beer brand. Direct overlap with CAPI's Spicy Ginger Beer SKU in the same on-premise and retail channels across Australia.
• Schweppes (Asahi Beverages): Australia's dominant mainstream mixer brand owned by Asahi. Competes with CAPI across tonic, soda water, ginger beer and lemonade SKUs at lower price points and significantly wider distribution.

Direct peers

• StrangeLove: Australian premium mixer and sparkling water brand directly competing with CAPI in hospitality and retail channels. Comparable craft credentials, glass packaging, and bartender-led positioning.
• Antipodes: New Zealand-born premium sparkling and still mineral water. Closest geographic peer to CAPI in the Australasian premium water category, with overlapping sustainability and provenance storytelling.
• Fever-Tree: UK-listed premium mixer brand (tonics, ginger beer, soda) built on craft credentials and bartender endorsement. Closest direct competitor to CAPI's mixer range with similar hospitality-led GTM and premium positioning.
• Perrier (Nestlé Waters): Iconic French sparkling mineral water. Directly comparable to CAPI's core sparkling water product in flavour profile, hospitality channel use and premium retail positioning.
• East Imperial: New Zealand-based premium mixer brand (tonics, ginger beer, soda) with similar bartender-led positioning and Asia-Pacific distribution. Closest Asia-Pacific craft mixer peer to CAPI's tonic range.
• San Pellegrino (Nestlé Waters): Italy's flagship premium sparkling mineral water and flavoured beverage brand owned by Nestlé Waters. Directly comparable to CAPI on sparkling mineral water positioning, hospitality channel presence, and premium mixer (tonic) portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CAPISPARKLING
• Facebookfacebook.com/CAPISparkling
• LinkedInlinkedin.com/company/capi-sparkling

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CAPI