Bevi, the market leader in smart water coolers, announced a $70 million Series D investment from Cowen Sustainable Investments (CSI), an environmental sustainability-focused growth investment platform. The $70 million in equity funding will support Bevi’s rapid growth and expansion into new verticals and products.

In 2015, Bevi pioneered smart water coolers that provide filtered, flavored, and sparkling water on demand. Bevi machines offer a more affordable and environmentally sustainable alternative to bottled water and flavored seltzer. Earlier this year, Bevi introduced its Standup 2.0, a next-generation water machine that offers over 40,000 permutations of beverages by letting users customize flavors, enhancements, carbonation levels and temperature. Bevi has helped customers save over 300 million single-use bottles and cans to date.