MOTH, the ready-to-drink cocktail brand, has closed an £11m round to fund growth in the UK and the US. Puma Growth Partners led the investment, joined by existing backers Beringea, Guinness Ventures and Rianta Capital.
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The London company, founded in 2021 by Sam Hunt and Rob Wallis, has climbed to become the second-largest RTD brand in UK grocery. It says turnover rose 67% to £20.9m in its most recent financial year, with distribution now spanning more than 40,000 UK stores, including Tesco, Sainsbury's, Waitrose, Asda, Morrisons, Co-op and Whole Foods Market. Convenience accounts for 54% of sales by value, and the channel is a priority for the new capital.
Growth in the US is also a focus, where it currently sells in Florida, Illinois and California through retailers including Whole Foods Market, Target and Trader Joe’s.
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