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Provider of drinking bottle system that provides scent-flavored water

Munich, GermanyFounded 2018Food
Valuation $100–250M Last recorded · 2021
Revenue $100–500M Latest reported FY
Headcount 100–500 Current team size
Total funding $50–100M Disclosed equity funding
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About air up

Munich-based air up GmbH is a company that has developed a refillable drinking system designed to flavor water using only scent. The concept originated from the 2016 bachelor's thesis of co-founders Lena Jüngst and Tim Jäger, who were studying product design and sought a way to combat unhealthy sugar consumption. They were fascinated by the science of retronasal olfaction, the phenomenon where the brain interprets scents from the mouth as taste, and developed a bottle that leverages this natural ability.

The company was founded in 2018 by Jüngst and Jäger, along with Fabian Schlang, a food technologist who researched the flavor pods, and Jannis Koppitz and Simon Nüesch, who provided business expertise. After securing initial funding, including an EXIST startup grant, the company launched in Germany in 2019, selling 80,000 starter kits within the first six weeks. Since then, air up has expanded across Europe and entered the US market in 2022. The company has raised over €60 million in funding from investors, including PepsiCo and venture capitalist Frank Thelen.

The business operates on a direct-to-consumer (DTC) model through its website, complemented by a growing presence in major retail stores. Revenue is generated from the initial sale of starter kits, which include a reusable bottle and flavor pods, and more significantly, from the recurring purchase of the consumable scent pods. The company targets health-conscious consumers, particularly Gen Z and millennials, who are interested in wellness and sustainable living. The product allows them to enjoy flavored water without any sugar, calories, or artificial additives. The system works by pulling air through a scent-infused pod as the user drinks. This scented air travels to the olfactory receptors in the nose, creating the perception of flavor while the user only consumes plain water. The pods contain natural aromas held in a fleece-like material and come in over 25 flavors.

Source: Dealroom company data

At a glance

Founded
2018
Headquarters
Munich, Germany
Sector
Food
Power Law
Thoroughbred$100M+ revenue

Investors

7 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed4 investors entered at this stage

  • Freigeist Capital
  • Felix Reinshagen
  • Oyster Bay Venture Capital
  • Stephan Huber

Series A3 investors entered at this stage

  • Five Seasons Ventures
  • Ippen Media
  • PepsiCo
Employees mapped 290 incl. 6 AI specialists
Founders Hidden — book a demo/100 quality score
Key operators 24 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
13 countries with
team presence
🇩🇪 Germany80.2%
🇬🇧 United Kingdom4.8%
🇺🇸 United States2.9%
🇪🇸 Spain2.4%
🇮🇹 Italy1.9%
Top 5 of 13 shown

Patents

Estimated portfolio value
$46M

28 active patent families included in this estimate.

A patent family groups patent filings for the same invention. Source: Dealroom · PatSnap.

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Market sentiment

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Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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