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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni Startup born in the Hatchery secures $2.5M in seed funding May 12, 2023 By Kurt Greenbaum 2 minute read Home News Startup born in the Hatchery secures $2.5M in seed funding Buoy, a consumer products brand that makes and markets hydration drops and was born in WashU Olin&＃8217;s Hatchery business plan course, has closed a $2.5 million seed round that includes 50 angel investors&＃8212;including Chris Paul, star point guard for the NBA&＃8217;s Phoenix Suns. Buoy product line &＃8220;This wasn&＃8217;t easy. It was the hardest thing I&＃8217;ve ever done,&＃8221; said Daniel Schindler, CEO of&＃160;Buoy, who began the business while he was an Olin student when it was called&＃160;BetterTomorrow. Schindler announced the closing of the funding round in an email on May 2. &＃8220;We wouldn&＃8217;t have gotten here without the help and support of so many people,&＃8221; he said. Schindler, MBA 2019, thanked his older brother, Jordan Schindler, for guiding the company as a mentor in fundraising and networking. He also credited&＃160;Craig Frischling&＃160;and&＃160;Kit McQuiston, the startup&＃8217;s lead contacts at the&＃160;New York Angel&＃8217;s&＃160;group, who Schindler said spent three months doing due diligence and connected his team with other investors on their behalf. Buoy has developed a line of flavorless liquid supplements that can be added to any drink to foster hydration and overall health by helping people retain water. In a 2022 company recap Schindler distributed in January, he said Buoy Energy Drops were available at all 936 CVS HealthHUB locations in new and improved retail packaging, and that the brand was available in about 3,500 CVS stores. Meanwhile, in 3,400 Walgreens stores, the company&＃8217;s hydration drops and immunity drops became available in new retail packaging nationwide and on Walgreens.com. For the calendar year, Buoy said it had $640,840 in revenue, with $251,000 from retail locations, $239,000 through Amazon, $81,000 in direct-to-consumer sales through its website and another $69,000 in business-to-business sales. &＃8220;Thank you to all our investors for your belief and support,&＃8221; Schindler said in an email announcing the funding round. &＃8220;What a journey it&＃8217;s been, and we&＃8217;ve only just begun.&＃8221; About the Author Kurt Greenbaum As communications director for WashU Olin Business School, my job is to find and share great stories about our students, faculty, staff, and alumni. I've worked for the Consortium for Graduate Study in Management as communications director and as a journalist for the St. Louis Post-Dispatch, Sun-Sentinel in South Florida and the Chicago Tribune. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis