©Qué Onda Beverage
Onda has raised $5 million in Series A financing to expand the distribution of its sparkling tequila beverages across the US.
Headquartered in New York, Onda offers 5% ABV canned sparkling drinks made with blanco tequila and real juice. Each 12oz can contains 100 calories and zero sugar.
The brand’s newly announced financing round was led by consumer growth equity firm, Aria Growth Partners, and beverage industry veteran Clayton Christopher. 25madison also backed the company’s latest funding effort.
Onda will use the new capital to support product development and marketing initiatives, as well as the expansion of its team and wholesale, retail and e-commerce distribution channels. The brand’s offerings are currently available for purchase in select US states.
Onda has also announced the appointment of Christopher, co-founder of Deep Eddy Vodka and Waterloo Sparkling Water, and founder of Sweet Leaf Tea, to its board of directors.
Christopher said: “As an investor and operator, I pay close attention to a number of factors before becoming involved with a new venture, including the potential of the category, the positioning of the brand and the strength of the team. On all three counts, Onda is a winner.”
Meanwhile, former president and CEO of Moët Hennessy North America, Jim Clerkin, who has also held leadership roles in companies including Diageo and Beam Suntory, will serve as non-executive chairman of the board.
“Over the past few years, I have been watching the emergence of the sparkling ready-to-drink market. The growth we’ve seen to date is tremendous and it is only just the beginning,” said Clerkin.
“The Onda team and brand is pushing this category forward. I am excited to be working directly with the founders to help grow Onda into a category-defining company.”
Noah Gray, co-founder and CEO of Onda, added: “We are thrilled to be joined on this journey by Aria Growth Partners and a great group of new team members and advisors.
“Jim and Clayton bring unparalleled understanding of the beverage alcohol industry as well as first-hand experience running numerous high-growth spirits brands. Having them as board members is a unique competitive advantage that makes us well positioned for success.”
© FoodBev Media Ltd 2020
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