Pour the cold water into a small bowl.

Sprinkle the gelatin over the water and let it sit for 5 minutes.

In a saucepan, combine the heavy cream, milk, and sugar.

Heat over medium heat, stirring occasionally, until the sugar dissolves and the mixture is hot but not boiling.

Remove from the heat.

Add the softened gelatin and stir until completely dissolved.

Stir in the vanilla extract.

Divide the mixture among serving glasses or jars.

Refrigerate for at least 4 hours or until fully set.

For the topping, combine the strawberries, sugar, and lemon juice in a bowl.

Let sit for 15 to 20 minutes until juicy.

Spoon the strawberry mixture over the chilled panna cotta before serving.