CleanCo, a London, UK-based premium low-alcohol spirits startup, secured £7m in funding.
Backers included Ursula Burns and Stonebridge PLC, a digital-first consumer brand investment firm set up by DTC entrepreneur James Cox. The latest investment takes the total now raised by the business to £9.1m.
The capital will support the brand’s international expansion, including plans to launch a number of significant new markets in H1 2021 and marketing investment in the UK to increase brand awareness.
Founded by TV personality and entrepreneur, Spencer Matthews with help from ex-director of the Gin Guild, Justin Hicklin, CleanCo uses traditional distilling methods to create low-alcohol spirits. The company has ammassed over 50,000 customers in 15 months with initial distribution via Sainsbury’s, Holland & Barrett and Dunnes Stores of Ireland.
The company entered the market in November 2019 with CleanGin, followed by CleanRum in May 2020, both at 1.2% ABV and priced at £19 for 70 cl. Offering flavourful replacements to some of favourite tipples, from just 13 calories per serving, the brand has expanded from its core range of CleanGin, CleanRum and CleanGin Rhubarb, with limited edition CleanGins, including Watermelon & Strawberry, Pomegranate & Grapefruit, Elderflower and Raspberry, along with individual cans of ready mixed CleanGin & Tonic and CleanRum & Cola at ABV 0.5%.
The company’s latest funding success follows a £2.1m seed funding round led by investment firm Lightspeed Venture Partners in 2020 taking the total raised to £9.1 million.