US ready-to-drink (RTD) cocktail brand Ohza has closed an around $4 million funding round led by CircleUp Growth Partners.
Founded in 2019, Ohza offers canned cocktails that combine sparkling wine and juice, and are reportedly free from added sugar, preservatives or artificial flavours.
The Massachusetts-based company’s portfolio includes mimosas and a bellini, and its products are said to contain only 130-140 calories per 12oz serving.
Alongside CircleUp, the brand’s latest funding round received participation from Branch Venture Group, Ruttenberg Gordon Investments, Riverside Ventures and individuals, as well as existing investors such as seed round supporter Austin Rosen.
The new capital will support the expansion of the brand’s footprint following Ohza’s recent partnership agreements with distributors such as Southern Glazer’s and Breakthru Beverage. The company also plans to use the funds to strengthen its direct-to-consumer business.
“Ohza uniquely delivers on what consumers are looking for in the emerging ready-to-drink cocktail category – better-for-you ingredient attributes while retaining a full flavour experience,” said Pat Robinson, general partner at CircleUp Growth Partners.
“We are excited to partner with Ryan and Ohza as they rapidly expand distribution and build a leader in the ready-to-drink cocktail category.”
Ohza CEO and founder, Ryan Ayotte, said: “I’m thrilled to have such a strong team of investors and employees behind Ohza as we build it into the leading canned cocktail brand in the US.”
He added: “Consumers love that we’re making authentic, portable mimosas and bellinis, but the magic really lies in the fact that we’ve created a ‘better-for-you’ version that’s allowing them to trade up on flavour compared to hard seltzer, yet have a relatively similar calorie count.”
© FoodBev Media Ltd 2021
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