Lyres hits GBP100m valuation milestone

By Clara Dijkstra5 days ago

Independent non-alcoholic spirits brand Lyre's, has completed a seed-plus funding round valuing the business at over GBP100 million.

This milestone has been achieved in under 24 months of trading, during which time Lyres has become the most widely distributed non-alcoholic spirits brand now available in 43 countries generating double-digit monthly revenue growth with annualised sales on course to exceed GBP35 million by the fourth quarter of this year.

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Lead institutional investors introduced in this funding tranche Lyres third round since inception include US-based Morgan Creek Capital Management (early-backers of Alibaba, SpaceX, Lyft, Drizly NinjaVan and Allbirds) and Bitburger Ventures (the investment arm of the German brewing dynasty). These enterprises join existing investors, DLF Venture, VRD Ventures, SFO GmbH, Maropost Ventures and Dhler Ventures, all of which have followed on or increased positions in this round.

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