Hiyo raises $20.8M Series B to expand retail and nightlife reach
What's the deal? HiyoDealroom has a profile for this one. Try Dealroom →, a maker of non-alcoholic social tonics, has closed an oversubscribed $20.8 million Series B round. The company plans to build on its rapidly expanding retail footprint and push deeper into live entertainment and nightlife.
What's the endgame? Hiyo is positioning its drinks as an alternative to alcohol in social settings. The new funding targets growth in two channels where alcohol has traditionally dominated: live entertainment and nightlife.
Why now? The round lands as Hiyo's distribution footprint surges. Fresh capital gives it room to keep widening retail availability while the brand still has momentum.
The signal: At $20.8 million, the raise sits above most comparable rounds, a sign of continued investor appetite for non-alcoholic beverage brands chasing shelf space and share of social occasions.
Read more: bevnet.com
Image credit: hiyo
