HARD KOMBUCHA RECEIVES 20 MILLION DOLLARS OF INVESTMENT

Hard kombucha and hard seltzer brand Flying Embers has raised $20 million thanks to a funding round led by Beam Suntory, one of the world’s leading liquor portfolios.

This investment round is a clear sign that hard kombucha is gaining momentum. Precisely, hard kombucha volumes in North America grew by more than 175% during 2020, according to forecasts such category will continue to expand by 75% by 2025.

“Since we launched Flying Embers in 2017, the hard kombucha category has grown exponentially with new brands and offerings, and a growing consumer understanding of what hard kombucha is and its unique attributes. While the overall beer category declined 3% in 2021, the hard kombucha category grew 50%,” says Bill Moses, founder and CEO of Flying Embers.

With the funds, Flying Embers plans to scale the brand and its national footprint. A large part of the investment will be used to introduce new consumers to the hard kombucha category. “The funds will be used to expand our marketing efforts to reach new markets and educate about the category,” says Moses, who adds that “we will dedicate funds to R&D and development of new innovations, while leveraging our in-house brewing, microbiology and manufacturing capabilities.”