Online drinks retailer DrinkWell has secured a £600k investment to drive its development of a marketplace for ‘better choice’ alcohol.
The business will use the funds from existing investor Sadita Holding Co, a Kuwait-based firm, to continue to support innovation, bringing new products to the market, as well as to fuel growth in international online and offline trade.
DrinkWell’s online marketplace sells a range of lower-calorie beers, wines and spirits to more than 75,000 customers, registering 50% year-on-year growth in 2021/22.
MD Tom Bell, who founded the business in 2015, said: “The stars are aligning for DrinkWell, both as a marketplace and as a leading, innovative brand creator in the drinks industry.
“The team has worked incredibly hard over to ensure we are consistently at the forefront of the reduced-calorie alcohol market, bringing exciting new products that never compromise on taste.
“Since the pandemic, there has been a huge shift in consumers’ drinking habits, with more and more people choosing to drink at home and purchase alcohol online. Consumers are also becoming more motivated by healthier alternatives, so it is vital we continue to innovate and develop our product offering with this funding to cater to this increasing demand.”
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