MOTH, one of the UK’s fastest-growing ready-to-drink (RTD) brands, now selling a MOTH every four seconds, has closed an £11m funding round led by Puma Growth Partners, joining current investors Beringea, Guinness Ventures and Rianta Capital.
Already the No.2 RTD brand in UK grocery, MOTH will use the funding to deepen its UK retail presence — with a particular focus on the fast-growing convenience channel. MOTH will also continue to accelerate their US expansion, where it is outpacing the cocktail RTD category across California, Florida and Illinois through retailers including Whole Foods Market, Target, Trader Joe’s and Binny’s.
The raise follows a year of standout performance with turnover of £20.9m, up 67% year on year and 146% over two years — three times the growth rate of the category.
The momentum reflects a category in rapid expansion. Canned cocktails now account for 27% of the UK’s £787m RTD market and grew 64% in the past year. The same pattern is playing out in the US, where cocktail RTDs are growing seven times faster than the wider $14.7bn RTD category.
Sam Hunt, the co-founder of MOTH, said: “When we started MOTH, the idea that a cocktail from a can could genuinely be delicious and rival one from a bar felt like a provocation. Now we’re selling one every four seconds and the momentum we’re seeing across grocery and convenience is the strongest it’s ever been. This raise is about taking that conviction deeper across the UK and America and we’re grateful to have attracted investors who understand our ambition and what we’re building at MOTH.”
Ben Leslie, investment director at Puma Growth Partners, said: “MOTH is one of the most exciting brands in RTD and we are delighted to have led the company’s latest investment. The team has built impressive momentum across both grocery and convenience in the UK, with clear evidence of repeat purchase and market share gains and now setting sights on replicating that success in the US. We’re excited to be backing a business that understands how to win in a rapidly evolving category and has a clear plan for scaling in the UK and internationally.”
Harry Thomas, partner and head of portfolio at Beringea, commented: “As early backers of MOTH, it was clear the business had the ingredients of a standout consumer brand: a clear proposition, an exceptional product, and a team with real ambition. Since our initial investment, Rob, Sam, and the team have translated that promise into impressive growth, not least in the US, where Beringea’s transatlantic presence and network have supported their expansion. We’re delighted to continue backing MOTH as it builds a category-defining drinks business.”
Adam Barker, investment manager from Guinness Ventures, said :“What gives us confidence in MOTH is the rigour behind the growth. The team makes investment decisions backed by evidence and scales only what they’ve proven works, a discipline that matters enormously as the business expands internationally. We’re proud to continue backing a management team that pairs real ambition with that kind of judgement.”
Sam Hunt (pictured above right) and Rob Wallis (left) launched MOTH in February 2021. MOTH’s range of 12 premium canned cocktails – including its No.1 SKU, the MOTH Margarita – is made with award-winning spirits and presented in fully recyclable cans. The brand is a certified B Corp.
