Low- and no-alcohol drinks producer The Clean Liquor Company has raised $2 million in a seed funding round led by investment firm Lightspeed Venture Partners.
Founded by television celebrity Spencer Matthews in November, Clean Liquor’s flagship product is CleanGin, which has an ABV of 1.2% and is said to have the same taste as classic London dry gin.
The brand is now focusing on international expansion, with plans to launch in India, Singapore, Australia and the US. It will produce a range of products targeted to different markets.
The next product in the pipeline is a rum, which is currently receiving finishing touches from the brand’s master distiller.
“The Clean Liquor Company was born out of a passion to make no- and low-alcohol products positive,” said Matthews.
“Rather than non-alcoholic, non-flavour, non-fun, we wanted to create something that answered the demand for quality and flavour but without the negative effects of alcohol.”
Nicole Quinn, partner at Lightspeed Venture Partners, added: “I look for businesses that are doing things differently, but that are not just disruptive but rather represent a generational behavioural shift.
“We want to build a business for the long run. And if that business is a celebrity’s business, the most important thing is true authenticity.”
Last year, Diageo acquired a significant majority stake in UK-based non-alcoholic spirits brand Seedlip.
© FoodBev Media Ltd 2019