CANADA – Partake Brewing, a non-alcoholic craft beer brand, has raised US$4 million in a Series A funding round led by equity fund CircleUp Growth Partners to accelerate growth specifically in the US market.
Partake Brewing claims that it will use the funding to accelerate the company’s growth in the US market by securing key hires, growing its distribution and retail network and building consumer brand awareness.
“We are thrilled to be joined on our mission to transform the non- alcoholic beer category by such an accomplished team of investors, board members, and advisors,” Ted Fleming, founder and CEO of Partake Brewing, said.
“With their support, guidance, and insights, Partake Brewing is in a fantastic position to expand our category leadership position in North America with our trailblazing products.”
Partake Brewery’s first institution funding is led by CircleUp, ExportDevelopment Canada (EDC), Natural Products Canada, McLean & Associates and Barrel Ventures.
“We are thrilled to be joined on our mission to transform the non- alcoholic beer category by such an accomplished team of investors, board members, and advisors,”Ted Fleming – founder and CEO, Partake Brewing
“Helio, our proprietary technology platform, flagged that Partake excels on taste, variety and nutritionals – the top three purchase criteria in the non-alcoholic beer category,” Trevor Rechnitz, partner, CircleUp Growth Partners, said.
“Partake’s five varieties, 10 calories and 2g of carbs per can, and awardwinning taste combine to differentiate it from the other emerging players.”
Self-funded since launching three years ago, the brewery offers a variety of craft non-alcoholic beers with ten calories and two grams of carbs per can. Its offerings are currently available through retailers such as Total Wine & More and Whole Foods Market.
Partake Brewing was founded by Ted Fleming after a diagnosis of Crohn’s Disease led him to give up alcohol. Ted turned to drinking nonalcoholic beer to maintain the connection and interaction that comes with social drinking. He found that variety and taste were missing from the nonalcoholic category, which inspired him to brew his own.
Partake Brewing now brews a variety of craft nonalcoholic beers that consumers love for their exceptional taste and category-leading calorie profiles (10 calories per can).
The company has been the recipient of numerous international awards for product quality and innovation including a Gold Medal at the World Beer Awards for Best Nonalcoholic Beer.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE