Exhausting kombucha firm JuneShine closed a $24M Collection B funding spherical led by traders together with Amberstone and Litani Ventures, the principals behind RXBAR.
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Launched in 2018 and bootstrapped by its founders, the corporate secured a seed funding in 2019 and an undisclosed Collection A earlier this yr.
With the brand new money inflow, JuneShine plans to broaden into the broader class of better-for-you brews with seltzers and low- or no-alcohol craft beers.
Lighter and Brighter
Natural, probiotic, and gluten-free, JuneShine affords health-conscious revelers a tangy different to exhausting seltzer.
With useful components and snazzy, IG-ready packaging, the San Diego-based brewer is a pacesetter within the exhausting kombucha house.
- Claiming almost half of the exhausting kombucha pie, JuneShine is ready to maintain tempo with the section, which is increasing 50% YoY.
- Revenues tripled from 2019 to 2020 and are on monitor to double once more this yr to $30M, fueled by retail progress and new product strains.
- Shining in retail, the model’s chain placements are up 91%; chain quantity is up 145%.
JuneShine additionally plans to fund the event of brick-and-mortar tasting rooms outdoors of California and work with its movie star ambassadors to launch new flavors.
Contemporary off of sober October, conscious drinkers are driving the expansion of the more healthy booze market.
- Curiosity in non-alcoholic drinks is steadily rising within the US, with demand up 60% YoY.
- Over half of Individuals say they’re making an attempt to drink much less; that quantity jumps to 66% for Gen Z and millennials.
JuneShine isn’t the one better-for-you brew seeking to capitalize on the $30B non-alcoholic market:
- Non-alcoholic spirit maker Lyre raised $37M this week at a $500M valuation.
- Useful, non-alcoholic beverage model Three Spirit reported 11x progress in home gross sales by means of August this yr and simply raised $3M in seed funding.
- Alcohol-free craft beer and wine startup Gruvi raised $2M in seed capital in September in a elevate led by Rockies Enterprise Membership.
- NA beer firm Athletic Brewing grabbed $50M this summer season.
In the meantime, Ritual Zero Proof reported 241% in income progress final yr and is rolling out into retail after partnering with Entire Meals in October.
Takeaway: After a pandemic-driven spike in alcohol consumption, shopper conduct is shifting. As of late, many simply desire a evening out with out the morning-after regrets. Whether or not that’s making drinks with more healthy alcohol, decrease alcohol, or no alcohol, conscious liquor manufacturers are right here to are likely to your cocktail repair.