Bucks County Craft Ice Startup Raises $4M in Series A, Exceeding Max End of $2M
Lux Ice, a craft ice startup with roots in Bucks County, has managed to raise $4 million in an oversubscribed Series A, writes Ryan Mulligan for The Business Journals.
The company makes spheres of ice that are intended to last longer in drinks rather than dilute them like other traditional options. Lux Ice is angling to become a mainstay in both the beverage and cocktail industries throughout the country.
The company first announced it was raising a Series A in December. At that time, the round was already oversubscribed and had exceeded its max end of just over $2 million.
The investors in this financing round were not identified in the SEC filing.
Lux Ice, which has operations in Langhorne, will use this Series A round to expand in Dallas. The company is planning on opening a new facility there in the first quarter of 2023.
Once the manufacturing facilities in Texas are up and running, the company will look to further expand its facilities on the East and West coasts in 2024.
Read more about Lux Ice in The Business Journals.
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