African spirits group Spearhead has raised $3 million in funding, which will power its growth in new markets and support the launch of new products.
The Black-owned company secured the funding from investment and advisory platform Pendulum.
Founded in the UK in March 2021, Spearhead features a portfolio of premium brands such as Bayab Gin and Vusa Vodka. The spirits are distilled with botanicals from across the African continent.
Chris Frederick, Spearhead’s co-founder and CEO, said: “With a lack of Black-owned African spirits brands exported globally, we have made it our mission to connect the world to Africa through our spirits”.
He continued: “Our brands not only increase diversity and challenge cultural bias in the sector but being produced on the African continent allows us to show the world what Africans have always known about its culturally and resource-rich continent, with products that compete on the world stage in taste and quality, as well as innovation”.
Spearhead has sold 35,000 units since entering the market.
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