- Sep 11, 2024
- 2 min read
British ready-to-drink bar-strength cocktail brand MOTH has closed a £4.6 million investment round led by venture capital firm Beringea.
MOTH will use the funding to solidify its leadership of the UK market – the brand holds a 41% share of the premium RTD category in the UK off-trade market. It will use it to accelerate its growth in the US and expand the MOTH team.
Since launching in 2021, MOTH cocktails are now sold in more than 3,000 supermarkets across the UK and, having already delivered successful launches in Massachusetts and Florida, in 2023, the company plans to open its first office in the US.
MOTH co-founder Sam Hunt said: “We are incredibly proud of the journey MOTH has taken since our launch. This investment is a testament to our success and a crucial step in our next chapter. We are excited to expand our footprint in the US, bringing our bar-quality, ready-to-pour cocktails to even more consumers. Our mission remains the same – to deliver the most delicious cocktail experience, anytime, anywhere.”
Harry Thomas, portfolio director at Beringea, added: “Not only has MOTH become one of the UK’s most exciting emerging brands – it has already begun to establish a foothold in the US, unlocking a vast opportunity for its next chapter of growth. This is a great team with fantastic prospects, and we look forward to seeing the business go from strength to strength.”
According to MOTH, its canned margarita is now the most popular RTD margarita in the UK. It joins the brand’s other cocktails, aperitivo spritz, negroni, espresso martini, French 75, piña colada, mojito, old fashioned, cosmopolitan and paloma.
