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TLDR:
- Moth secures a £4.6 million investment for marketing and team growth and US expansion.
- The investment was led by Beringea and will be used to solidify Moth’s UK market leadership.
Canned cocktail brand Moth has secured a £4.6 million investment to boost its marketing efforts, team growth, and expand in the US market. This investment, led by transatlantic venture capital firm Beringea, comes after three years of expansion for Moth. The brand currently holds a 41% share of the premium ready-to-drink category in the UK off-trade market and its cocktails are available in over 3,000 UK supermarket stores. The funding will be used to further strengthen Moth’s position in the UK, accelerate growth in the US, and expand the team on both sides of the Atlantic.
Since its launch in 2021, Moth has seen substantial commercial growth with annual revenues increasing by 200% in 2022 and 150% in 2023. The company has also expanded its team to 35 people in less than three years. The brand’s range of canned cocktails includes popular flavors like Margarita, Aperitivo Spritz, Negroni, and Mojito. Moth has already successfully launched in Massachusetts and Florida in 2023 and intends to establish its first office in the US. Additionally, Moth is the first premium British RTD brand to receive B Corp certification.
The co-founder of Moth, Sam Hunt, expressed excitement about expanding the brand’s presence in the US and delivering high-quality cocktails to more consumers. Beringea’s portfolio director, Harry Thomas, praised Moth’s success and prospects for future growth. The brand’s products are available in major UK supermarkets and in various on-trade accounts including Wagamama and Chelsea Football Club.
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