Denver-based startup Gruvi has raised $2 million in seed funding to continue offering its line of non-alcoholic beer and wine.
The funding round was led by Rockies Venture Club with participation from Maple Leaf Angels, Head and Heart Capital, and other investors through BDC capital. Angel investors like 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, also participated. Phil Donne, who will be taking an advisory role, said about the round:
“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 has 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.”
Gruvi was founded in 2019 with the mission to provide consumers with a non-alcoholic alternative to beer and wines without sacrificing the taste and variety. Its line of products includes various beer styles ranging from Lager to Stout, as well as 3 different types of wine. The products launched by the startup have allowed it to grow by more than 400% over the past year, having sold in more than 1.5 thousand locations in the US, Canada, and Australia.
The startup is looking to make the beer-tasting experience healthier not only by eliminating alcohol from them but also by reducing the caloric intake they represent, making them healthier for the consumer. To prove that the taste is not affected, the startup introduced its first alcohol-free tasting lounge in Denver earlier this year, which also provides customers with alcohol-free cocktails.
By pushing the boundaries not only of what beer or wine entails but also on how their alcohol-free alternatives are consumed, Gruvi is aiming to become a major player in the industry. With the consumption of beer, wine, and cocktails continuing to become more about the taste and social setting instead of the effects of alcohol, the startup has found itself a niche with unmet demand.