Iris Nova Wants to Be the Coca-Cola of Wellness Beverages, CEO Says
*By Chloe Aiello*
Health beverage company Iris Nova is modeling itself after its latest, greatest investor, Coca-Cola.
"The legacy and infrastructure they've built globally is really a model for what we'd like to build with Iris Nova," CEO and co-founder Zak Normandin told Cheddar Monday. "There's no better partner to kind of guide us along that path than Coca-Cola."
Beverage behemoth Coca Cola ($KO) led the latest $15 million round of funding for Iris Nova, the New York-based parent company of health beverage brand Dirty Lemon. Actress Sophia Bush and baseball legend Alex Rodriguez also participated in the round, [according to Crunchbase](https://www.crunchbase.com/organization/dirty-lemon-beverages-3/investors/investors_list#section-investors). Normandin said he'd like to use the funding to eventually expand the number of brands under the Iris Nova umbrella.
And the company is getting started right away. Normandin said the company already has plans to launch a new brand, the alcohol-free aperitif Tres Limon, and has another product coming for the second half of 2019. It's also planning to expand its retail concept, The Drug Store, to a second location in New York City ー joining one currently in Manhattan's Tribeca neighborhood ー as well as to Miami and Los Angeles.
Dirty Lemon, which is known for adding unusual ingredients, like turmeric, collagen, and charcoal, to its beverages also briefly had a CBD beverage on the market, [but pulled it in early November](https://www.cheddar.com/videos/dirty-lemon-pulls-cbd-drink-from-shelves-over-legal-worries).
At the time, Normandin told Cheddar that the company's decision to remove the CBD-infused drink from the market came down to legal concerns, saying the company was “not in a position to take that risk right now.”
On Monday, he expanded on that reasoning, adding that the decision had more to do with CBD's tenuous legal status than Coke's investment.
"We were just trying to button up the company. In going through a big round of funding like this, we were just making sure that legally we were in a good place to take on that capital," Normandin said.
For full interview [click here](https://cheddar.com/videos/iris-nova-ceo-says-dirty-lemon-is-only-a-text-message-away).
Stephen Kates, Financial Analyst at Bankrate, joins to discuss the Fed’s 25-basis-point rate cut, inflation risks, and what it all means for consumers and marke
Big tech earnings take center stage as investors digest results from Alphabet, Meta, Microsoft, Amazon, and Apple, with insights from Gil Luria of D.A. Davidson
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.