Market Overview

Mitte® Raises 10.6M USD Seed Round for Building a System That Turns Plain Tap Water into Mineralized Water at Home

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Financing Round Led by Danone Manifesto Ventures and VisVires New
Protein Capital

Mitte,
the first of its kind smart home water system, today announced that it
has secured USD 10.6 million in financing. The financing round was led
by Danone Manifesto Ventures, the New York-based venture arm of Danone,
VisVires New Protein Capital, and Kärcher New Venture.

Moritz Waldstein, founder and CEO of Mitte states, "Mitte is on a
mission to improve lives with healthy water produced in an
environmentally friendly system. We aim to offer consumers clean and
healthy water. For Mitte, healthy water means two things; free of
contaminants and full of minerals that are known to be essential for
humans. We are thrilled to be supported by forward-looking partners like
Danone Manifesto Ventures and VisVires New Protein Capital that
understand our mission. We believe this partnership will position us to
execute on our expansion plan as we benefit from our partners'
significant food and beverage expertise. We are confident that Mitte's
positive impact will affect every aspect of the way people consume
water, the environment and make an impact on the hydration industry as a
whole."

Plain tap water quality is a growing concern around the world. Mitte, a
Berlin-based startup, was founded in June of 2016 with the goal of
providing solutions to plain tap water quality and promoting
sustainability by offering an alternative to bottled water through its
smart home water system that purifies and enhances water through a
process inspired by the natural water cycle. Mitte works by purifying
water with a proprietary distillation-based method, and enhancing the
water with essential minerals.

Mitte's mineral cartridges are designed to replicate the mineralization
process of natural and pure water flows, while allowing consumers the
option to choose a tailored hydration experience. Mitte allows users to
personalize their daily drinking water with different mineral cartridges
containing varying levels of natural minerals.

"Mitte is a compelling business that is differentiated from other
at-home water purification products with its ability to create
personalized purified waters enriched with minerals, as well as with its
smart technology and IoT connectivity," said Laurent Marcel, Managing
Director of Danone Manifesto Ventures.

"We believe that Mitte has significant potential and represents a strong
strategic fit for Danone Manifesto Ventures, advancing our goal of
promoting health through hydration. We look forward to supporting
Mitte's ambition to provide consumers with the opportunity to choose
their preferred mineralization levels and taste profile," commented
Jean-Francois Hurel, Head of Investment of Danone Manifesto Ventures.

"Mitte has developed a unique product with the potential for significant
growth and positive societal impact," said Matthieu Vermersch, Founder
and Partner of VisVires New Protein Capital. "Mitte not only offers a
transformational solution with the provision of high-quality healthy
water but also a highly sustainable alternative to the burgeoning issue
of plastic pollution, a phenomenon faced globally but notably in Asia
where concerns over safe drinking water have been traditionally
addressed via the purchase and consumption of bottled water."

The financing round will support Mitte's expansion plan including in the
U.S., where it ran a successful crowdfunding campaign in 2017 that was
overfunded by 360%. Mitte remains committed to its partnership with its
communities and to building smarter and sustainable solutions to healthy
drinking water.

About Mitte (www.mitte.co)

Mitte is on a mission to improve lives with healthy water. With early
backing by Atlantic Food Labs, Mitte is revolutionizing the way we drink
water at home with the first of its kind smart water system that
enhances water through a process inspired by the natural water cycle.
The system brings not just safe, but healthy water to everyone, the way
nature intended it to be.

Mitte's sustainable design supports its commitment to improving lives.
Mitte knows a better you also means a better world, that's why we are
dedicated to improving environmental impact by reducing plastic bottle
waste.

About Danone Manifesto Ventures (www.danoneventures.com)

Danone Manifesto Ventures is the venture arm of Danone, bringing the
Danone Manifesto to life by partnering with a tribe of disruptive
entrepreneurs and innovative food and beverages companies that share its
vision of a healthy and sustainable future. Through this unit, Danone
makes investments and provides financial and operational support to its
portfolio companies through access to its experienced teams around the
world, while preserving the autonomy required to grow their
entrepreneurial project. Since its inception mid-2016, Danone Manifesto
Ventures has made several investments including Michel et Augustin in
France, as well as Farmer's Fridge and Harmless Harvest in the United
States, among others.

About VisVires New Protein (http://visviresnewprotein.com)

Based in Singapore, VisVires New Protein (VVNP) is the first Venture
Fund in Asia that focuses exclusively on finding disruptive solutions
for our global food and feed systems. VVNP employs a disciplined
investment approach built on identifying existing global problems within
the value-chain through active engagements with a strong network of
academia and industry experts. Unrestricted by geographical boundaries,
VVNP strives to uncover game-changing solutions and technologies that
can be applied globally, especially to Asia. Since its inception, VVNP
has made several investments including, among others, Ynsect from France
and Nuritas from Ireland.

About Kärcher New Venture (www.kaercher.com/newventure)

Kärcher New Venture is the Corporate Venture Capital Unit of Alfred
Kärcher SE & Co. KG, the world's leading provider of cleaning technology
for commercial and private customers with a focus on digital technology.
The mission of Kärcher New Venture is to connect ideas, people, business
and capital with the intention to create the cleaning solutions for the
future. In 2017, the Kärcher group achieved, with its operations in 67
countries, the highest turnover of its history (EUR 2.5 billion).

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