By Brad Avery.
Owl’s Brew, makers of tea-based cocktail mixers and a tea-and-beer Radler line, announced Thursday it has closed a $4 million series A funding round. The round included large investments from investment firm Cambridge Companies SPG and Anheuser-Busch InBev’s “disruptive growth organization,” ZX Ventures.
Speaking to BevNET, Owl’s Brew co-founder and CEO Jennie Ripps said the capital infusion would go toward funding the expansion of the brand’s Radler line. The products — which are made with premium light beer, fresh-brewed organic tea and infused with real fruits and botanicals — launched in October but began a stronger East Coast rollout in Q1.
The funding will enable Owl’s Brew to support its wholesalers and distributors as the brand moves into new markets, Ripps added. As part of ZX’s investment, a representative of the group will join Owl’s Brew’s board of directors.
Read more at BevNet.