Beam Suntory was among the investors in the organic alcohol brand's series C round, possibly the largest yet in the space.
US-based organic alcoholic beverage producer Flying Embers completed a $20m series C round led by spirits producer Beam Suntory yesterday, as health consciousness making inroads into the alcohol market.
Founded in 2017, Flying Embers produces organic alcoholic beverages such as its Hard Kombucha and Hard Seltzer lines, some of which contain probiotics and botanical adaptogens.
The drinks are intended to offer a healthier alternative to other alcoholic drinks, and the company will use the funding to grow its marketing capability and expand into other alcoholic categories where organic options are not as freely available.
Organic wine alone is projected to grow at a compound annual growth rate of 10.7% between 2020 and 2027, at which point it is expected to reach over $16.6bn globally. It forms part of a wider organic beverage market which is itself set to grow to $47.8bn by 2026.
Flying Embers’ round is on the larger…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
