Alcohol-free beer company raises £3.5m investment after 150% revenue increase
An independent alcohol-free beer company has announced that it has raised £3.5m of investment after a 150 per cent increase in revenue.
Big Drop Brewing Co, which has its global headquarters in London, has raised the investment through a Series A funding round, led by Panoramic Growth Equity and supported by Rubix Ventures.
The company has reported a 150 per cent year on year revenue increase, forecasting sales of £5m by the end of 2021.
Big Drop also said that it has “big plans” for 2021, including a new London venue and numerous events and activations.
Rob Fink, founder and CEO of Big Drop, commented: “Big Drop has seen fantastic growth over the last few years, due in no small part to the hard work, commitment and belief of our brilliant team.
“This investment will give us the turbo-charge needed to build on our mission to brew great tasting beer that just so happens to be alcohol-free and to pursue our vision of being the world’s best-loved alcohol-free beer.”
David Atkinson, senior investment manager at Panoramic Growth Equity, added: “Rob, James and the team at Big Drop have created exceptional alcohol-free beers, a premium brand and a name with universal appeal.
“As consumer tastes develop, the alcohol-free drinks market is experiencing high growth and Big Drop is at its forefront. We share the team’s vision to grow the brand in the UK and overseas and are pleased to provide investment to support this goal.”
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