Lyre's continues global expansion following $179m valuation
Thursday, May 6, 2021
Lyre's, the world "s leading independent label for soft drinks, has achieved a funding round of more than £100 million to become the most valuable independent brand in the rapidly-growing No/Low alcohol Spirits category.
Introduced almost 24 months ago, Lyre's has emerged as the most popular spirits brand for non-alcoholic beverages, with sales forecast to exceed $43 million through the fourth quarter of this year with monthly sales revenues rising in the double digits.
"It's truly exciting to travel through the £100 million valuation milestone within two years of trading," trading,"said Mark Livings, Lyre co-founder and chief executive.
These companies join the existing investors DLF Venture, VRD Ventures, SFO GmbH, Maropost Ventures and Döhler Ventures, who are all having moved with them or increased their positions in this round.
These locations include The Iconic Atlas, The Manhattan and Tippling Club Bars in Singapore, The World Bar of the Year in Sydney and renowned food groups such as Nobu, Australia's Rockpool Group, and even Vegas casino hotels such as The Sahara, The Cosmopolitan and Virgin.
Lyre's has a portfolio of 13 top-flight non-alcoholic spirits which means it is able to make 90 percent of the world's top-selling cocktails and its proprietary manufacturing method means Lyre's can continue to scale and roll out at a speed which makes it appealing to investors.
Lyre's also benefits from demand for premium drinks that can be enjoyed on the go for adults, having recently launched three ready-to-drink versions of its product in the U.S., Asia and Oceania with the UK and Europe set to go to market soon.