Rapidly growing RTD cocktail brand Moth has closed an £11m funding round to continue its expansion at home and abroad.
The latest round, which follows a £4.6m investment in 2024, was led by Puma Growth Partners, with the private equity firm joining current investors Beringea, Guinness Ventures and Rianta Capital.
Moth has grown quickly to become the number two ready-to-drink brand in UK grocery and will use the latest cash injection to deepen its UK retail presence, particularly in convenience stores. The business also plans to accelerate its push in the US market, where the brand said it was outpacing the cocktail RTD category across California, Florida and Illinois through retailers such as Whole Foods Market, Target, Trader Joe’s and Binny’s.
Turnover at Moth soared 67% to £20.9m in its latest financial year as it grew distribution to reach more than 40,000 stores in the UK across core retailers Tesco, Sainsbury’s, Waitrose, Asda, Morrisons, Co-op and Whole Foods Market.
“When we started Moth, the idea that a cocktail from a can could genuinely be delicious and rival one from a bar felt like a provocation,” said Sam Hunt, who co-founded the brand with Rob Wallis in 2021.
“Now we’re selling one every four seconds and the momentum we’re seeing across grocery and convenience is the strongest it’s ever been. This raise is about taking that conviction deeper across the UK and America and we’re grateful to have attracted investors who understand our ambition and what we’re building at Moth.”
Ben Leslie, investment director at Puma Growth Partners, added: “Moth is one of the most exciting brands in RTD and we are delighted to have led the company’s latest investment.
“The team has built impressive momentum across both grocery and convenience in the UK, with clear evidence of repeat purchase and market share gains and now setting sights on replicating that success in the US. We’re excited to be backing a business that understands how to win in a rapidly evolving category and has a clear plan for scaling in the UK and internationally.”
Moth is a former Grocer Gold winner after taking home the award for Drinks Brand of the Year in 2024. Its canned cocktails are also sold on British Airways European short-haul flights, in Pret a Manger outlets across UK airports and at Honest Burger, Franco Manca and Yo.
Harry Thomas, partner and head of portfolio at Beringea, said: “As early backers of Moth, it was clear the business had the ingredients of a standout consumer brand: a clear proposition, an exceptional product, and a team with real ambition. Since our initial investment, Rob, Sam, and the team have translated that promise into impressive growth, not least in the US, where Beringea’s transatlantic presence and network have supported their expansion.”
Adam Barker, investment manager from Guinness Ventures, added: “What gives us confidence in Moth is the rigour behind the growth. The team makes investment decisions backed by evidence and scales only what they’ve proven works, a discipline that matters enormously as the business expands internationally. We’re proud to continue backing a management team that pairs real ambition with that kind of judgement.”
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