The co-founders of Australian luggage brand July, Athan Didaskalou and Richard Li, have acquired a 20% stake in Melbourne-based Memobottle at a valuation of A$10 million. The investment was made in a personal capacity and will see the pair advise the business on product development, retail expansion, and international growth. The move connects one of Australia's best-known travel brands with a design-led reusable bottle company that has built a global retail footprint.
Advisory Role and Company Background
Memobottle was founded in 2014 by Jesse Leeworthy and Jonno Byrt and is best known for its distinctive flat, paper-sized water bottles. The company now sells through more than 2,000 retail locations across over 100 countries. Didaskalou said the investment grew out of conversations that began nine months ago, when Memobottle's founders approached him and Li for advice on retail, product development, and partnerships.
Brand-Building Philosophy
Didaskalou described Memobottle as less of a bottle business and more of a design business, noting that the hardest part is not making the bottle but creating a relevant brand that people know and love. He indicated that the company's flat, paper-sized bottle naturally narrows its market, so leveraging brand equity is essential for expanding into new categories. This perspective underpins the founders' decision to work with July's leadership on long-term product and marketing strategy.
Product Expansion and New Launch
The first major development under the partnership is the launch of Memo Round, Memobottle's first round-shaped and insulated water bottle, which will debut via Kickstarter on October 14. It features double-walled stainless steel insulation, a concealed 360-degree rotating mouthpiece, and three removable components for easy cleaning, and it will be available in two sizes and eight colors. Didaskalou said the new design could attract a wider customer base, while the company's Memobento lunchbox range attracted approximately A$500,000 in Kickstarter pre-orders.
International Opportunity
Although Memobottle products are available in more than 100 countries, the business has a relatively limited retail presence in the United States, which Didaskalou sees as a significant opportunity for growth. He said Australian businesses have historically focused too heavily on defending their domestic market rather than pursuing international opportunities. For Didaskalou, the real growth lies in being big in the United States and Asia, with Australia serving as a global test bed for products and brands.
Operational Responsibilities and Partnership Potential
Under the new arrangement, Li will focus on manufacturing, supply chains, and operations, while Didaskalou will work on branding, marketing, and partnerships. July has previously partnered with the Australian Olympic team, Qantas, American Airlines, and the Australian Open, and Didaskalou said similar partnerships could help Memobottle grow overseas. Financial terms beyond the 20% stake and A$10 million valuation were not disclosed, but the capital would be directed toward expansion rather than a cash out for founders.
Didaskalou described the approach as a chance to put money toward growth and double down on Memobottle's brand equity and credibility. He framed the business as more of a design company than a bottle company, emphasizing the difficulty of building a relevant brand over manufacturing a product. With new product categories, advisory support, and a sharper focus on the United States and Asia, Memobottle is positioning itself to evolve beyond its flat-bottle origins.
Source: Smartcompany.com.au