Next Century Spirits, a Raleigh, N.C.-based company that combines traditional distilling techniques and finishing technologies to create enhanced spirits, raised $3.6m in funding.
The round was led by Blue Hill Group, a private equity firm based in Chapel Hill, NC. Blue Hill investor, Matthew Bronfman, will chair the board of Next Century Spirits.
The funding will help Next Century Spirits, a technology partner to major operators in the distilled spirits market, scale operations.
Established in 2018, Next Century uses innovative systems to produce spirits for a variety of beverage products, from craft brands to large, bulk blends. The company operates a distillery in Durham, NC, with a current capacity of approximately 300,000 liters per year, with plans to expand next year.
The company’s proprietary technology allows traditional distillers to expand their repertoire of flavors and aromas while improving quality, maintaining consistency, and reducing supply chain issues.
It is a spinoff of Anavo Technologies, an intellectual property holding company led by Scott Bolin, Chief Executive Officer, which identifies and capitalizes on new technologies.