While it did not detail the specifics of the investment, Moth said it would use the funding round to solidify its position in the UK while accelerating its growth in the US – supported by plans to open its first office in the US. The drinks firm also announced plans to expand its team on both sides of the Atlantic.
Commenting on the investment, 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.
Footprint in the US
“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.”
Launched in 2021 by co-founders Rob Wallis and Sam Hunt, Moth has established itself as one of the UK’s leading RTD cocktail brands available in 3,000 UK supermarkets. The firm reported 200% and 150% revenue growth in 2022 and 2023 respectively.
Since its launch, Moth now holds a 41% share of the premium RTD category in the UK off-trade market and has expanded its team by 35 people.
‘Vast opportunity for its next chapter’
Harry Thomas, Portfolio Director at Beringea, added: “Rob and Sam have built a remarkable business. 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.”
In other investment news, Dried fruits and nuts ingredients manufacturer Community Foods has secured an additional £6m to support its expansion plans, boosting total investment into the company to £23m.
This latest funding boost followed a £17m funding facility provided to the manufacturer by Praetura Commercial Finance Group in December 2023 to help enhance its 80,000 sq ft (7,432m2) production and warehousing facility.
