Jiant, a leading ready-to-drink alcohol brand for modern consumers, announces the successful completion of a $6 million Series A capital raise. These funds will bolster production capabilities, drive deeper distribution, support new sales channels, and fuel the rapid expansion of Jiant's highly sought-after hard tea line.
LOS ANGELES, Dec. 7, 2023 /PRNewswire-PRWeb/ -- Jiant, a leading ready-to-drink alcohol brand for modern consumers, announces the successful completion of a $6 million Series A capital raise.
The funding round was led by Natureza Growth Partners and attracted participation from notable investors, including G5 Capital, Sage Venture Partners, AIR Ventures, Semillero Partners, Brown Angel Group, Freedom Trail Capital and Michael Silverstein, former global leader of the Boston Consulting Group's global consumer practice and NYT Best-selling author of Trading Up. These funds will bolster production capabilities, drive deeper distribution, support new sales channels, and fuel the rapid expansion of Jiant's highly sought-after hard tea line.
"We are thrilled to have the support of investors who share our vision for redefining stale categories of alcohol beverage and pushing the boundary of what beyond-beer products can deliver on taste and quality," said Larry Haertel Jr., Co-founder of Jiant. "This capital raise marks a pivotal moment in our journey, putting us in a position to amplify our reach, enhance our offerings, and connect more deeply with our consumers and retail partners."
The infusion of capital comes as Jiant continues to ride a wave of success generated by its hard tea line, introduced in 2022. By boldly challenging legacy Flavored Malt Beverage (FMB) brands in huge sub-categories (Hard Tea is a $1.2B off-premise retail category according to Nielsen), Jiant is equipped with a platform for significant growth in 2024 and beyond. "We continue to build strong credibility with our retailers and distributors who acknowledge our prowess to deliver consumer-led innovation that aligns with emerging trends," said Larry Haertel Jr., Co-founder of Jiant. To that effect, Jiant's hard tea has seen explosive growth (313% YTD in sales) this past year. Jiant has quickly risen to become the top independent brand in each of its core markets, Southern California and Colorado. The company envisions a national footprint in the future, but also recognizes the massive opportunity to cultivate even stronger roots in the markets where it has already proven its success. By prioritizing deeper distribution and fostering greater consumer adoption locally, it aims to solidify its strongholds before extending its influence to new frontiers.
Jiant has built a strong distribution network across 24 states and with national retail partnerships including Whole Foods, Trader Joe's, Target, Kroger, Albertsons, HEB, Sprouts, Erewhon, and Total Wine. The company was recently selected by 7-Eleven for its Brands with Heart program, which recognizes innovative brands that enhance the on-the-go customer experience. Jiant has found success in major sports and entertainment venues, including Ball Arena, SoFi Stadium, Dodger Stadium, Coors Field, and the LA Coliseum.
Jiant has distinguished itself by catering to the core values of today's consumers, emphasizing taste, Junk-Free™ ingredients, authenticity, and a commitment to environmental stewardship. Earlier this year, Jiant achieved a significant milestone by becoming the first-ever certified Climate Neutral hard tea brand. The company further solidified its commitment to sustainability by pledging to eliminate plastic from all its primary and secondary packaging in 2024.
While the company firmly believes its future success lies in hard tea, Jiant started in 2019 by making hard kombucha and has continued to outperform the hard kombucha category this year. "We built a great business around our hard kombucha line and our liquid is one of a kind. However, we saw a much bigger opportunity with hard tea to service more retailers, consumers, and occasions and moved quickly. We have a proven and unmatched prowess in creating delicious beyond-beer liquid using only simple, real ingredients. We believe this is showcased in our exceptional Junk-Free™ hard tea line and will continue to serve us well as a platform for innovation," said Aaron Telch, Co-founder of Jiant.
About Jiant
Founded in 2019 by friends Larry Haertel Jr. and Aaron Telch, Jiant proudly calls Los Angeles home. As a leading ready-to-drink alcohol brand for modern consumers, Jiant is renowned for its uniquely refreshing hard tea, kombucha, and cocktail-inspired drinks crafted with fresh-brewed tea, real fruit, and botanicals. Delicious in taste and transparent in ingredients, everything that's in the can is on the can. Certified as climate neutral, Jiant is committed to combating climate change, striving to eliminate carbon emissions while producing planet-friendly beverages. Jiant is available in the U.S. via a network of top-tier distributors and retail partners such as Whole Foods, Trader Joe's, Target, Kroger, Albertsons, Total Wine & More, HEB, Erewhon and Sprouts. To learn more please visit drinkjiant.com and follow along on Instagram and TikTok @drinkjiant.
Media Contact
Larry Haertel Jr., Jiant, 1 (424) 571-3573, [email protected], drinkjiant.com
SOURCE Jiant
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