Onerous kombucha firm, JuneShine, has raised $24 million in a sequence B spherical to speed up its enterprise with plans to enterprise into new better-for-you alcohol classes in 2022, and provoke a sequence of ardour tasks via celeb partnerships.
The most recent spherical, led by JuneShine’s current traders together with Amberstone and Litani Ventures (launched by RXBar’s founder Peter Rahal after promoting his enterprise to Kellogg
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San Francisco-based Amberstone, a $45 million fund that has beforehand bought Chameleons Chilly Brew to Nestlé, and at the moment has 9 lively investments in line with PitchBook, reportedly poured $6 million into this spherical, whereas Litani and Villam Ventures, not too long ago launched by RXBar’s different cofounder Jared Smith, collectively invested $3.5 million.
JuneShine, which has been promoting natural exhausting kombucha (4.2%-6.0% ABV) since 2018, additionally plans to make use of the fund to assist the event of its first brick-and-mortar tasting rooms outdoors of California, along with strengthening its gross sales and advertising infrastructure.
Its ardour undertaking sequence contains a assortment of flavors designed the model’s celeb ambassadors, together with Whitney Cummings, Evan Mock, Cody Ko, Ali Krieger, Ashlyn Harris, Mark Wystrach, Ty Haney, Sage Kotsenburg, Austin Eager, Nora Vasconcellos – a few of whom are additionally JuneShine’s traders.
“JuneShine is a kind of category-defining manufacturers that doesn’t come round fairly often,” stated Nick Mindel, accomplice at Amberstone. “The model is pushed by a staff that has introduced transparency and better-for-you choices into the alcohol phase, and they’re simply scratching the floor on what they will accomplish.”
Rahal additionally stated in an announcement: “JuneShine has the strongest staff within the sport, which makes it very easy to take a position behind.” The sequence B increase is predicted to drive JuneShine’s valuation additional, which has reached $80 million after the shut of the corporate’s earlier fundraise.
“We plan to double income once more in 2022 fueled by our progress in grocery retailer retailer and new product line innovation,” stated Forrest Dein, cofounder of JuneShine.
Chief Business Officer, Todd Karnig, additionally notes how exhausting kombucha general has carried out “exceptionally properly” in first mover retailers, and JuneShine is properly positioned to push the class to develop additional.
“Because the main model within the class,” Karnig stated, “we made large distribution positive aspects within the fall retail units, and we anticipate greater wins within the spring.”
He stated: “Our chain placements are up 91% and our chain quantity is up 145%. Grocery has been an incredible match for JuneShine as our taste and package deal improvements get elevated consideration. We’re delivering for retailers, and exceeding their expectations is our focus.”