Clearwater Wellness launches a $2 million convertible-note raise after record-breaking pre-sales — with Australian cricket legend Tim Paine joining as a strategic investor and brand ambassador.
Photo Courtesy of Clearwater Wellness
VICTORIA, Australia, Dec. 19, 2025 (GLOBE NEWSWIRE) -- A former Olympian, a Shark Tank-backed founder, a Silicon Valley engineer, and a cricket captain walk into a start-up — and what they’re building is redefining Australia’s role in the booming global wellness economy.
Melbourne-based Clearwater Wellness, creator of the SnowCap, the world’s first thermoelectric ice bath, has announced a $2 million capital raise to supercharge manufacturing and global expansion. The first to dive in is former Australian Cricket Captain Tim Paine, who joins as both strategic investor and brand ambassador.
“What drew me to Clearwater was its purpose — unlocking human potential through elegant and innovative design,” said Paine. “The SnowCap isn’t just about recovery; it’s about mindset, performance, and bringing world-class innovation from Australia to the world stage.”
The raise follows a blistering start for Clearwater — more than $700,000 in pre-sales within eight weeks, and a rapidly expanding community of athletes, wellness professionals, and performance enthusiasts worldwide. The company also recently opened a US$1.2 million convertible-note round to fund tooling and its first manufacturing run, underscoring investor confidence in its patented technology.
The secret to SnowCap’s success lies in its combination of innovation and simplicity. Using advanced thermoelectric components, the system delivers plug-and-play recovery — no plumbing, no compressors, no ice, and virtually no noise. “You take it out of the box, plug it in, and you’re ready,” says Dr. Matthew Guest, the Olympian-turned-doctor leading product innovation. “That level of accessibility is why this category is about to explode. It’s recovery tech that actually fits real life.”
The new funding will accelerate production, drive U.S. and European expansion, and support new partnerships with elite athletes, wellness clubs, and boutique gyms. With a $6 million valuation cap and profitability projected within six months of full-scale manufacturing, Clearwater Wellness is fast becoming one of Australia’s most exciting wellness-tech exports.
Co-founder and CEO Laynton Allan says Clearwater’s momentum taps into a growing global appetite for human optimisation.
“Whether it’s being a more present dad, a sharper operator, or simply a calmer, more grounded person — people who want to unlock their potential are gravitating toward what we’re building,” he says. “They’re the ones who invest in their edge — mentally and physically. We’ve fused cutting-edge engineering with lifestyle design so recovery isn’t a grind; it’s a trigger for clarity, confidence, and real growth.”
As cold plunging becomes one of the fastest-growing global wellness trends, Clearwater is positioning itself as the new benchmark for intelligent recovery — proof that Australian innovation can compete, and win, on the world stage.
About Clearwater Wellness
Clearwater Wellness is a Melbourne-based wellness technology company that created the SnowCap, the world's first thermoelectric ice bath. Founded by Olympic athletes, medical professionals, and Silicon Valley engineers, the company generated more than $700,000 in pre-sales within eight weeks and secured $2 million in capital for global expansion, with strategic backing from former Australian cricket captain Tim Paine.
Contact Information:
Contact Name: Matthew Guest
Contact Email: matt@clearwatericebaths.com
Website: https://clearwaterwellnessco.com/
Address: Melbourne, AU 3124
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8fb2cea7-d71a-4368-bb21-cd694013d15d
