Say goodbye to hangovers with Fungtn
When investing, your capital is in danger.
Generally you simply want an excellent ol’ chilly beer. One thing tasty, refreshing and funky. Possibly even just a few.
However what you don’t want is a hangover.
Or to be set again together with your health and wellness objectives. Life is to be lived and never every part must be a tough compromise.
There is no such thing as a doubt that customers are caring extra about what they devour, particularly due to the pandemic. In keeping with a McKinsey research, 79% of customers imagine that wellness is essential to them. When splitting up what ‘wellness’ meant, one in every of six key pillars was higher diet. Consequently, legacy manufacturers and startups are rising to capitalise on this want, primarily within the NoLo area of interest.
For those who’re unfamiliar with the time period ‘NoLo’, it covers the vary of alcohol-free and low alcohol drinks below 1.2%. The market worth reached nearly $10 billion in 2021, a pointy rise from $7.eight billion in 2018. Knowledge reveals that it’s not a fad both, pre-pandemic, UK quantity gross sales for NoLo drinks grew by 169.7% between 2017 to 2019.
While alcoholic drinks took successful to gross sales total, NoLo drinks have been on the rise. With the market anticipated to develop by 34% by 2024, buyers are putting their bets right here. Pitchbook discovered that fundraising in nonalcoholic drinks doubled within the first half of 2021 in comparison with 2020.
Introducing Fungtn 🍺
The startup ecosystem is booming as smaller area of interest manufacturers are adapting rapidly to this rising market. A model we’re excited to see presently fundraising is Fungtn (pronounced perform).
Fungtn is an award-winning, alcohol free craft beer brewed with adaptogenic mushrooms. Zoey Henderson launched the model on a shoestring price range mic pandemic, rising it organically via social media and press.
Zoey has a wealth of expertise within the meals and beverage trade via proudly owning her personal café, Slate Espresso in Shoreditch , to being the London gross sales lead at Fitch Brew co and consulting within the café and hospitality area. It’s no shock that in lower than two years, she’s grown Fungtn to realize the next:
- Received 5 trade awards for innovation and style
- Launched into Planet Natural & Selfridges
- 65+ UK and Europe stockists, 1 nationwide wholesaler
- Export secured for USA / Canada in 2022
What’s it with mushrooms? 🍄
In a podcast interview, Zoey recollects the invention of blending mushrooms and beer:
“I used to be ingesting a number of alcohol free beers as my husband and myself had determined to take a break from alcohol. I used to be sitting in my backyard, throughout March 2020, ingesting alcohol free beers within the afternoon. I had mushroom espresso within the morning. I needed extra mushrooms in my meals and was enthusiastic about what I might put in. I took the mushroom powder and stirred it into the beer. As soon as it settled down, the style was good!”
In addition to good style, useful mushrooms are generally known as adaptogens. Adaptogens are herbs and fungi that go previous nice diet, but additionally assist our our bodies adapt to emphasize and hold in good kind.
Mushrooms are an excellent low calorie supply of fibre, protein and antioxidants. They’re well-known to mitigate the chance of great well being circumstances akin to Alzheimer’s, most cancers, diabetes and coronary heart illness.
Again to Fungtn 🍺
The very best half about Fungtn is that persons are in a position to devour wholesome NoLo beers and dwell hangover free lives with out sacrificing style, high quality and wellbeing. With a returning buyer price of 16%, it’s clear Fungtn are doing one thing proper.
Fungtn are presently near closing a £150,000 SEIS spherical on Seedrs to assist the corporate scale, herald new group members in gross sales and advertising and marketing, develop a 0% vary for the Center East market and faucet into wider audiences akin to festivals and occasions.
Excited by what Fungtn has achieved in simply in need of two years, 115 buyers are excited to be part of their journey as they start to scale. In case you are too, go to their pitch right here.