Friday Funding: Non-Alcoholic Drink Startup Boisson Snags $12 Million
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New York City-based non-alcoholic beverage retailer Boisson has raised $12 million in seed funding, bringing its total valuation to $47 million. The round was led by Connect Ventures and Blue Scorpion Investments.
Co-founders Barrie Arnold and Nick Bodkins launched Boisson in 2021. The retailer now offers more than 125 non-alcoholic beverage brands that can be bought on its ecommerce platform or at brick-and-mortar stores in New York and LA. Boisson sells things like mixers as well as zero-proof wines, beers, spirits, and aperitifs.
Expansion Plans
Boisson has five retail stores in New York City. It’s now opening three new locations in the greater Los Angeles area over the next two months. The company also wants to expand further into major US markets and overseas. Eventually, new content platforms will be launched in efforts to expose more consumers to zero-proof beverages.
Looking beyond selling products in stores and online, Boisson plans to target bars and restaurants. This involves investing in wholesale distribution, consumer data, and product education. Boisson has already inked a partnership with Ford (F) Electric Vehicles, which will be used for distribution accounts’ deliveries while producing zero emissions.
A Growing Industry
Non-alcoholic and low alcohol beverage sales are growing. International Wines and Spirits Record (WSR) provides drink market analysis and notes the category grew 27% last year. Their research suggests sales will increase by 23% each year through 2026.
Part of that trend may be due to it being easier to find non-alcoholic products. Drizly, an online alcohol ordering and delivery company, says nine out of every ten of its partners sell at least one such beverage. Meanwhile, companies making those products say they’re also appealing to people who drink alcohol. Three Spirits, based in the UK, estimates 80% of its customers are drinkers. The sector’s evolution makes it clear you can have your drink, but avoid the hangover.
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