Spirited Brands raises $3.1M to scale RTD cocktail brands Soula and Soke
What's the deal? Spirited BrandsDealroom has a profile for this one. Try Dealroom →, the Phoenix-based, women-owned company behind ready-to-drink brands SoulaDealroom has a profile for this one. Try Dealroom → and SokeDealroom has a profile for this one. Try Dealroom →, has closed a $3.1 million raise. The capital will fund deeper retail penetration, distributor support, and brand building as the company enters its next phase of growth.
What does it make? Both brands are 5% ABV, low in sugar, and made with all-natural ingredients and organic cane sugar. Soula is a modern margarita built on Blue Weber agave wine from Jalisco, Mexico, sold in Lime, Mango Citrus, Paloma Grapefruit, and Pineapple Chili.
Why now? The company has built distribution across Arizona, Southern California, Minnesota, New Mexico, and Texas, with retail partners that include Trader JoeDealroom has a profile for this one. Try Dealroom →'s, Albertsons/SafewayDealroom has a profile for this one. Try Dealroom →, Total Wine & MoreDealroom has a profile for this one. Try Dealroom →, and GoPuff. Both brands have earned multiple Gold and Double Gold awards in ready-to-drink competitions.
What's the endgame? A significant portion of the funding will strengthen the two brands through next-generation packaging, paid media, experiential marketing, and retail displays. "We've reached an important inflection point," said co-founder and chief commercial officer Maikel van de Mortel.
What they're saying: "Our priority is to deepen the markets we're already in, strengthen execution and invest behind the brands in ways that drive velocity and sustainable growth," said co-founder and chief executive officer Ron Goodson.
The signal: Lower-alcohol, low-sugar RTD cocktails continue to draw capital as brands chase shelf space and repeat consumers. Spirited Brands is betting that deepening existing markets, rather than chasing new ones, is the surer path to durable demand.
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Image credit: Stewart
