The Zero Proof, an online retailer, importer and supplier of adult no-alcohol beverages, announced the closing of its Series A funding round. The round was led by Asahi Group Beverages & Innovation, the U.S.-based venture arm of Asahi Group Holdings, Ltd. The company’s previous lead investor, Overline, participated in the round, along with Springdale Ventures, the company states.
The Zero Proof plans to use the funding to hire salespeople in key markets, expand its distribution network nationwide, grow its base of key retail accounts and broaden its wholesale portfolio. Additionally, the company plans to increase its suite of proprietary adult zero proof spirits and wine, it states.
Expanding the Zero Proof Category
“I’m thrilled to welcome our new, strategic investors to the team,” said Sean Goldsmith, CEO and co-founder of The Zero Proof in a news release. “It’s an exciting time for the adult, non-alc category, and this new funding enables us to accelerate our already phenomenal growth by building out our omnichannel distribution and broadening our suite of high-quality, delicious NA beverages.”
“We are excited to partner with The Zero Proof and to support the company in furthering its lead in the hyper-growth adult non-alcoholic beverage category,” said Kristen Bareuther, President and Head of Investment at Asahi Group Beverages & Innovation in the release. “We’ve closely studied the market and believe The Zero Proof is best positioned to be the long-term category winner, with unparalleled distribution and an ever-expanding product offering.”