Award winning, alcohol free craft beer brewed with adaptogenic mushrooms.
- Won 5 industry awards for innovation and taste
- Launched into Planet Organic & Selfridges
- 65+ UK and Europe stockists, 1 national wholesaler
- Export secured for USA / Canada in 2022
We believe Fungtn is the first alcohol free craft beer brewed with adaptogenic mushrooms. A range of award winning beers made to complement daily routine, we brew a traditional craft beer to 0.5% with a functional finish of functional mushrooms.
Super food mushrooms, known as adaptogens, have been used in health & wellness for thousands of years. A natural solution to the stresses of our hectic modern lives, their complex, delicate flavour is designed to blend well into drinks especially into our modern day beer pallet.
We wanted to go past just removing the alcohol for a more mindful beer and create additional positive wellness for conscious consumers. Bringing fungi into the mainstream with a product that delivers on taste.
We have developed a first to the UK market product that sits in between the growing markets of no & low alcohol, fungi, health & wellness and craft beer. A unique opportunity to bring mindful drinking into the mainstream with a better for you product that fits growing consumer demands.
Substantial accomplishments to date
With 49% of British adults no longer drinking and the mindful drinking movement growing momentum in the Western world, we are at point of the beverage industry changing forever.
"Pint of mushroom please! Millennials are turning their backs on traditional beers in favour of savoury low-alcohol drinks such as fungi-flavoured ales" With headlines like this in the Daily Mail we can see the change sweeping into the mainstream .
· Launched on a shoe string, raised £30k and still have SEIS remaining
· Bought on board advisory CFO
· Retailing in Planet Organic / 65 independent stockists UK / EU
· Live on Amazon
· Featured on NBC Access Hollywood as a future food & Drink trend
· Won Bronze in UK IPA; World Beer Awards, Bronze: International beer challenge, Best New Product; natural & Organic awards Europe
· Nationwide press coverage including GQ, The Telegraph, The Times and The Independent.
· Launching into Selfridge's Jan 22
· Secured a national products / grocery wholesaler
· Launching into the US / Canada Q2 22 - import and distribution agreed
"Drinks with adaptogens – such as mushrooms and black garlic – are set to be big this year - Diageo"
Launching mid pandemic, we built social media, organic press and digital exposure securing a strong online community with a 16% repeat customer rate through our ecommerce shop.
We launched into retail through Planet Organic, Selfridges and secured a national wholesaler. Our next focus is to secure premium grocery listings in Wholefoods, Ocado & Waitrose. We have partnered with Jiffy, one of London's leading, on-demand delivery service getting our beers out to hundreds of thousands of Londoners.
We have built strong commercial partnerships with leading no & low venues and retailers such as The Virgin Mary Bar, The Alcohol Free Co. and the Wise Bartender. We plan to increase activity in Q3 2022 by building out a UK trade sales team and wholesaler engagement.
We have operational export channels to Europe and Singapore and plan to export to the US and Canada this year. We are also looking to launch into Australia and New Zealand this year. For 2023, we are planning to develop a 0% range to scale the brand into the Middle East and find export partners in Dubai and Saudi Arabia.
Use of proceeds
We plan to use this first round of seed money raised to scale the brand in the UK and launch export partners in the US and Canada.
We see the non alcoholic and functional drinks markets as future trends with potential for innovation and rapid growth over the next 18 months. Our aim is to scale a brand that is drunk globally but brewed locally following a contract brewing model that will enable us to scale into growing markets. This model will allow us to build a community in new territories and maximising our production in an energy efficient way.
• Establish UK sales / distributor partnerships 15%
• Marketing activities (Digital / PR) – brand development & education 25%
• UK and Europe trade shows and events – brand exposure 15%
• UK market ongoing support for retailers and wholesalers 10%
• Range NPD 5%
• Key team hire # 1 15%
• Develop brand into key territory - North America 10%
The first £120K invested in the round is eligible for SEIS tax relief and will be offered on a first come first serve basis.
Investments over £120K will be eligible for EIS.
The company has the following outstanding loans:
1. £10,000 loan from Iwoca at an interest rate of 5.7% per month. The loan is to be repaid based upon a rolling credit.
2. £25,000 loan from Business Finance at an interest rate of 6% per annum. The loan is to be repaid by 1st September 2025.
The funds raised from this investment round will not be used to repay these loans.
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