US hard kombucha brand JuneShine has closed a Series A funding round led by celebrity investors, as it looks to accelerate its nationwide growth.
The round – which was in the ‘mid-millions’ – was led by celebrity investors including musical artist Diplo, comedian Whitney Cummings, YouTube star Cody Ko and singer-songwriter Ashe. Additional investment from existing investors was led by Litani Ventures, Peter Rahal, Amberstone Ventures and Plus Capital.
The San Diego-based company brews organic, alcoholic kombucha that are available in cans and via draft. The 6% ABV beverages come in ten flavours including Blood Orange Mint, Midnight Painkiller, Grapefruit Paloma, Honey Ginger Lemon, Acai Berry and Hopical Citrus.
JuneShine plans to use the capital to support its growth acceleration across the US through its key retail partners (including Trader Joes, Costco, Kroger, Target and Sprouts), ramp up production capacity, as well as support its product development and sustainability efforts.
The funding round comes as JuneShine opens its new flagship Santa Monica tasting room in Los Angeles, with plans to establish more.
“Our tasting rooms are all about creating memorable experiences for our customers and offering an alternative social experience focused on conscious consumption and community building,” said Forrest Dein, CMO and co-founder of JuneShine.
“As the nationwide leader of the hard kombucha category, it’s our responsibility to continue growing the category and our celebrity ambassadors will help us make JuneShine Hard Kombucha a household brand name.”
JuneShine plans to work with the ambassadors and investors to activate the brand through lifestyle events and product collaborations. “We’re incredibly excited to roll out new collaborations with our celebrity ambassadors and bring more awareness to organic, sustainable alcohol,” added Dein.
According to JuneShine, the company tripled its revenue from 2019 to 2020 and is on track to double it again in 2021. The company also closed a seed round in February 2019 and raised $6 million in early 2020 prior to expanding into 25 states.
JuneShine investor and musical artist Diplo said: “As I’ve gotten older I’ve become much more aware and intentional about what I put in my body because it makes such a difference in my overall mood and energy levels. Last year I made hard kombucha my drink of choice because I feel better when I drink JuneShine.”
© FoodBev Media Ltd 2022
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