Danny MacAskill, Dan Martin and Zwift founder Eric Min just invested in this alcohol-free craft brewery
MacAskill, Martin and Min walk into a (dry) bar...
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@samwilliamandrews
In its latest round of funding, Big Drop Brewing Co., an alcohol-free beer company was backed by a few well-known names in the world of cycling. Scottish mountain biker Danny MacAskill, Irish pro road cyclist Dan Martin (Israel Start-Up Nation), Zwift founder Eric Min along with mountain bikers Greg Minnaar and Loic Bruni have all invested in the UK-based business.
In a Series A funding round, Big Drop Brewing Co. has raised £3.5m in equity investment, led by Panoramic Growth Equity with further funds coming from Rubix Ventures. Headed by Dan Martin and two other managing partners, Rubix Ventures is a venture capital investment firm that already has stakes in Zwift and Superpersapiens, among other companies in their portfolio.
Big brews
Sales in the no-alcohol and low-alcohol drinks sector show a promising growth of 50 per cent throughout the past year. Over the same period, Big Drop Brewing Co. has seen revenue jump up by 150 per cent. While a beer (or two) might seem like the best way to end a hard ride, alcohol can add to dehydration or impede a cyclists’ recovery, so it makes sense that a group of athletes would be interested in non-alcoholic options.
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The company already had some cycling industry connections before the pros came on board—Big Drop Brewing Co. recently collaborated with Paria, a cycling apparel company. The result was a beer called the ‘Tailwind IPA’ and a colourful accompanying jersey.
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Big Drop was launched in 2016 by entrepreneurs Rob Fink and James Kindred, two long-time friends who wanted to create alcohol-free craft beer that did not compromise on taste. The beer is brewed in the UK, Australia, the US and Canada.
