One of the fastest-growing mezcal brands in the US, Madre Mezcal, has raised $3 million in a Series A funding round led by venture capital studio, Room 9.
The brand will use the funding to grow its product range and expand its distribution and marketing efforts in new markets (including other US states, countries and online).
“Beyond a great-tasting, easy-to-drink mezcal, Madre’s success has been a result of working closely with the communities that have driven word-of-mouth for the brand,” says Chris Stephenson, CEO of Madre.
“For us to expand while continuing this successful path, we needed a partner that recognises the cultural authenticity that fuels our approach. With Room 9, we’ve found a partner that understands the growth opportunities through product, geography and digital expansion, and encourages the brand development through cultural engagement.”
Room 9’s portfolio spans the consumer, food and beverage, and tech sectors and includes brands such as Jot Coffee, Los Sundays Tequila and Cleancult.
Room 9 Founder, Anish Bhatia, commented: “Madre sits in the crosshairs of a cultural movement and an exceptional founding team. We feel the Company is poised to capitalise on the exponential growth of consumer demand in mezcal while building a brand that is authentic to its roots in Oaxaca.”
“Shifting market trends all point to mezcal as one of the fastest-growing spirit categories, with Drizly recently reporting a 600% year-over-year growth in their mezcal sales. We’re excited to partner with Madre and believe the brand has the opportunity to become the first true recognised brand in the category.”
Madre Mezcal is currently available in selected bottle shops, grocery stores and online markets in the US, Canada, UK and Europe.
© FoodBev Media Ltd 2022
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial