The West Midlands-based Buzbee's Beverages said there was a gap in the tonic water market for drinkers concerned with health and sustainability.
There is room in the market for new companies alongside traditional key players like Fever-Tree and Schweppes, the brand said.
Managing director Mark Busby spoke of his happiness at being able to grow the company.
He said: “We are really excited to announce our investment from Amsvest and Lord Sugar, who will be helping us to fund Buzbee's next stage of growth.
“We are really passionate about our products and what they stand for and are confident that, with Lord Sugar's investment, this will enable our business to continue to grow, becoming a well-known healthy alternative in the drinks market.
“We’re looking forward to this next stage of the business, especially with Lord Sugar and his team at Amsvest being able to provide great support to Buzbee’s.”
Sugar added that the investment marked a new market for him to explore.
Amvest has previously made investments into a vegan and cruelty-free beauty company and a company producing sweet gifts in personalised packaging.
He said: “At Amsvest, we are always looking for new, exciting businesses to invest in that are different from others in the market, Buzbee’s Beverages is exactly that.
“Providing the drinks market with a new healthy alternative tonic water, with an emphasis on sustainability, this is an exciting new brand that we are looking forward to developing over the coming months.
“We are confident that we will be able to help them develop as a business and build their brand in a market where there is definitely an appetite for an alternative offer.”