Olympian Doctor & Start-Up Founder Dive Into $2 Million Raise as Cold Therapy Heats Up

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