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US canned margarita company SipMargs has raised $2 million in a funding round led by venture capital firm Lab Capital Advisors. Founded in 2021, SipMargs uses tequila from the Highlands of Jalisco, Mexico, and offers five flavours: classic margarita, coconut margarita, mango margarita, mezcal margarita, and spicy margarita. SipMargs is a low-sugar, low-calorie and low-carb option with an alcohol level of 5% ABV. According to the company, the capital will be used to support "its continued growth and innovation". With the funding, the company plans to expand its presence in Michigan, Ohio and Connecticut, with more states to follow, including Virginia and California, in 2024. Justin Nabozna, CEO of SipMargs, said: "We're extremely grateful for the support of our investors and are excited about the opportunities ahead. SipMargs has come a long way since our launch in 2021, and we look forward to growing our brand in the ready-to-drink cocktail market."