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Nirvana Brewery succeeds in raising £750,000
East London-based Nirvana Brewery has succeeded in raising £750,000 from private investors in a move that will help low alcohol beer grow.
The UK’s first-ever dedicated no/low-alcohol brewery reached its target after recently securing half a million pounds from a small group of private investors, taking its 2023 fund-raising total to just over the targeted £750,000.
The brewery has said that it will use the money to fund the development of key markets, as well as new product developments and marketing to support its growing number of stockists across Britain.
Nirvana has also revealed it is predicting further growth in the category courtesy of the strong and sustained trend of no/low ‘mixing’ – a drinking trend where beer drinkers have started varying their rounds between full-strength and no/low beers.
In addition to the steps forwards the brewery has taken, Nirvana’s on-trade distribution has also been boosted by its appointment of sales and marketing agency, Bright Drinks – which has just secured distribution for its range with Inn Express.
Bright Drinks was previously involved in the trade success of both Lucky Saint and Athletic Brewing Co. and has stated that it is continuing to confirm deals with other leading wholesalers.
Nirvana Brewery founder Becky Kean said: “We were ahead of the no/low curve when we started and now we’re riding the wave that’s come along. People aren’t just switching to nos/lows occasionally – or exclusively for Dry January – they’re genuinely embracing them. This fundraise and a new distribution partner with experience of top-tier alcohol-free brands is adding further impetus to nine months of impressive growth.”
Bright Drinks co-owner Cheryl Gordon added: “As Nirvana invests in growing beyond its London heartland, we’re thrilled to be part of the team. Working with them makes perfect strategic sense, given the alignment of the brand with market trends, but it was also an emotive decision based on our shared values and a deep admiration for how Becky has grown and established the brand.”