Investment from Rockies Venture Club, Maple Leaf Angels, and Head and Heart Capital, among others, to expand distribution and product innovation
DENVER, Sept. 28, 2021 /PRNewswire/ -- Gruvi, a line of non-alcoholic beer and wine led by a dynamic sister and brother duo, today announced its seed capital raise of $2.0 million. The round was led by Rockies Venture Club with participation from Maple Leaf Angels, Head and Heart Capital, several private investors and debt financing through BDC capital. Notable investors include Phil Donne, previous CEO of Campbell Soup and Kellogg Canada, Rita Valois, previous CIO of Treasury Wine Estates and Jim Spatz, President of Southwest Properties. To support leadership and strategy, Phil Donne and Jill Holmstrom, Director of Innovation at SRG, will take on an active advisory role while Rita Valois will join Gruvi's Board of Directors. The capital will be used to grow the Gruvi team, increase distribution and continue to invest in product innovation.
"Gruvi has seen a lot of recent success in leading the non-alcoholic space with recent product innovations such as the first non-alcoholic Red Wine in a can, a seasonal Peach Pie Ale, and various non-alcoholic beers on draft all across Colorado," said Niki Sawni, Co-Founder of Gruvi. "We're very grateful for the support of all our investors to allow us to continue trailblazing a new way to live and socialize with non-alcoholic beverages that make any moment feel a little more Gruvi."
Gruvi launched in 2019 with only funding from friends and family, and was one of the first non-alcoholic beverage brands to ever exist in the space. Gruvi continues to be a leader in the industry, and has seen an escalated growth of over 400% over the last 12 months. Gruvi is now sold in 1,500 retail locations across the U.S., Canada and Australia including Total Wine & More, Whole Foods, BevMo, Safeway, Target and more. Gruvi was also selected as the Rising Star at the 2021 Expo East Pitch Slam competition. With the $2.0 million seed funding, Gruvi is projected to triple in business over the next 12 to 16 months.
Phil Donne commented, "I'm thrilled to join the Gruvi team and be a contributor to bringing their mission to life. Gruvi's excellent and delicious range of products have caught the attention of people looking to re-imagine how and what they drink in social settings. Being part of that purpose and community is exciting."
Earlier this year Gruvi launched their first alcohol-free tasting lounge and taproom in Denver, Colorado and saw great success. The taproom was the first of it's kind serving draft non alcoholic beer, wine and a variety of alcohol free cocktails.
"The alcohol-free space is quickly growing and many are starting to explore healthier alternatives to alcohol, but the biggest thing still lacking is sober-centric public spaces for people to socialize without the booze," says Anika Sawni, Co-Founder of Gruvi. "It was pretty much a no-brainer that we wanted to create a pop-up space that pushed the boundaries in what an alcohol free setting could look and feel like. With our new capital, we are excited to continue to explore more opportunities to create those spaces and grow Gruvi's retail footprint."
For more information about Gruvi please visit www.getgruvi.com or follow Gruvi on Instagram at @getgruvi.
Gruvi, a line of non-alcoholic beer and wine led by a dynamic sister and brother duo, offer NA Gruvi Secco Wine, Rosé Wine, Red Wine, IPA, Stout, Pale Ale and Lager. With exceptional craft taste, no alcohol and as few as 26 calories for the entire drink, Gruvi can be enjoyed without any regrets, or trade-offs. For more information about Gruvi please visit www.getgruvi.com or follow Gruvi on Instagram at @getgruvi.
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