Flying Embers raise $20m in funding
Hard kombucha and hard seltzer brand Flying Embers has raised $20 million in a Series C funding round led by Beam Suntory.
“While the total beer category declined by 3% in 2021, the hard kombucha category grew by 50%,” says Bill Moses, Founder & CEO of Flying Embers.
“Since we launched Flying Embers in 2017, the hard kombucha category has grown exponentially with new brands and offerings coming into the fold, and a growing consumer understanding surrounding what hard kombucha is and its unique attributes.”
Flying Embers plan to scale the brand and increase its national footprint.
“The funding will be used to expand our marketing efforts to reach new markets and educate on the category,” says Moses. “Additionally, we will dedicate funds to R&D and new innovation development, while leveraging our in-house brewing, microbiology and manufacturing capabilities.”
Beam Suntory is the third largest producer of distilled beverages worldwide and is keen to support the ready-to-drink sector.
“The ready-to-drink sector has seen incredible growth in recent years and in response to this growth, we’re seeing consumers asking for more choices, driven by key trends,” says Greg Hughes, Beam Suntory’s North America President, according to Forbes.
“We’ve been impressed with the growth of Flying Embers’ products and innovation, and we are proud to support this growth in an important category.”