Owl’s Brew Closes $9M Series A Funding Round

Owl’s Brew

Owl’s Brew, a Stamford, Conn,-based leader in tea-based spiked and sparkling beverages, secured $9m in Series A funding.

The round was led by by Formidable Asset Management with participation from Cambridge SPG; Connecticut Innovations, Connecticut’s strategic venture capital arm; Tidal River, Connecticut’s women’s investor network; TV personality, activist, and Owl’s Brew Chief Brand Officer, Jeannie Mai; Brent Montgomery’s entertainment and investment enterprise, Wheelhouse; Director Sam Taylor-Johnson; Keleigh Teller; and others.

The company intends to use the funds primarily to expand product distribution, invest in marketing initiatives, and grow the team.

Led by tea experts Jennie Ripps and Maria Littlefield, Owl’s Brew is a female-founded company whose product line, Boozy Tea, is a Hard Tea Seltzer that is crafted with only real ingredients and with a commitment to no arti-ficial flavors, no natural flavors, no animal byproducts, no parabens, and no sulfites. The tea lineup consists of six styles including Matcha & Pineapple, English Breakfast Tea and Lemon, Darjeeling & Hibiscus Flow-ers, White Tea and Watermelon, Jasmine & Blueberry as well as the latest seasonal style, Spiced Chai & Cranberry.

The line is available in major retailers nationwide including Trader Joe’s, Whole Foods, Publix, Total Wine, HEB, Sprouts, GoPuff, and more. The company has experienced 918% growth since its launch, recently expanded from 10 to 18 markets across the U.S., and secured national mandates from several large retailers.

FinSMEs

25/09/2021