Ready-to-drink cocktail brand Arrowtown Drinks has closed a £400k investment round led by venture capital fund Sorven Capital.
The brand, which makes low-sugar vodka-based drinks from natural ingredients, will use the funds to expand its presence across the on and off-trade, as well as to grow its team.
The raise was spearheaded by Sorven Capital’s CEO and founder Mark Philip-Sorensen – an early-stage investor in personal care brand Wild and DTC food delivery platform Mindful Chef.
Other backers included a slew of fmcg executives and brand founders, alongside Rahul Powar, a former non-executive director of Co-op.
“This investment comes at a pivotal moment as we build momentum across retail, wholesale and festivals,” said Arrowtown founder Rob Smith. “It will allow us to grow the team and scale the business as we continue to take the fight to the big boys.”
The RTD market in the UK was “ripe for disruption” and Arrowtown had “the team, product, and energy to become a category-defining challenger”, said Philip-Sorensen.
“We’re proud to back a company that not only understands where the market is going, but also what consumers are truly looking for,” he added.
Arrowtown Drinks was founded by Smith and his brother James in 2020. Its vodka sodas are sold via DTC and in specialist independent retailers, as well as in Midcounties Co-op stores.
The brand said its revenues were forecast to grow by 300% this year, without disclosing figures.
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