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Danone Fund Invests in German Home Mineral Water Machine

Source: reuters.com

Danone's venture fund leads a $10.6 million investment in Mitte, a Berlin startup making a smart home water device.
The Mitte machine turns tap water into customizable mineral water using purification and mineral cartridges.
This funding helps Mitte launch its first product in 2019 and expand to the U.S. market.

Danone Manifesto Ventures, the investment arm of the French food giant Danone, put money into Mitte, a German company building a tabletop gadget that purifies tap water and adds minerals to match natural spring water. It tackles worries about tap water quality and cuts down on plastic bottles by letting people make personalized drinking water at home. The deal shows big companies betting on tech to meet demand for healthier, sustainable options.