NEW YORK — Boisson, the non-alcoholic beverage retailer, has raised a $12 million seed round, bringing the company’s valuation to $47 million. This funding, the largest seed round for a non-alcoholic brand to date, will support the brand as it opens new stores in Los Angeles, launches a new on-premise arm of its business and debuts new content platforms.
Boisson currently has an extensive collection of over 125 non-alcoholic beverage brands that offer zero-proof wines, beers, spirits, aperitifs and mixers. The brand currently has five retail stores in Manhattan and Brooklyn with three Los Angeles locations soon to open. Additionally, Boisson offers nationwide shipping via its website.
The round was co-led by Connect Ventures, the investment partnership between entertainment and sports agency Creative Artists Agency (CAA) and global venture capital firm New Enterprise Associates (NEA), and Blue Scorpion Investments, an active leading consumer venture fund that has led previous rounds of Quip, Thursday Boots and Van Leeuwen Ice Cream. Michael Blank from Connect Ventures and Gautam Ahuja from Blue Scorpion Investments will be added to the Boisson board. Additional investors include Undisputed UFC Heavyweight Champion Francis Ngannou, Midnight Ventures and Red Krypton.
Launched in 2021 in NYC by Co-Founders Nick Bodkins and Barrie Arnold, Boisson was born with the mission of providing non-alcoholic spirits to consumers in a welcoming, judgment-free zone that sparks curiosity. Since then, the company has rapidly expanded its retail footprint across New York City to total five retail stores, grown its e-commerce platform and increased sales 7.5x, cementing its position in the non-alcoholic market which reached $3.3 billion in sales in 2021 (Nielson) and is projected to grow +31% by 2024 (IWSR).
“The demand for non-alcoholic beverages has grown significantly over the last year and we are excited to use these funds to expand our presence and begin partnering with restaurants and hospitality organizations,” says Nick Bodkins, CEO & Co-Founder of Boisson. “We believe the N/A category will become a mainstay in the food & beverage industry and are committed to providing sophisticated zero-proof sips to consumers whether they’re staying at home or enjoying an evening out.”
On the heels of this round closing, Boisson will be expanding its store presence to Los Angeles, with three new locations slated to open throughout August and September in Studio City, Brentwood and Beverly Hills. Following this expansion, Boisson has plans to open additional stores in major markets across the U.S and internationally, in addition to launching new content platforms to support the growth of the zero-proof category.
“As the popularity of non-alcoholic beverages continues to surge, Boisson has quickly emerged as the premier non-alcoholic retailer and distributor, bringing efficiency and scalability to this fragmented market, while providing increased access and product variety to both individual consumers, and the Food & Beverage industry,” said Michael Blank of Connect Ventures. “Fueled by the cultural and generational shifts happening within the space, Boisson is poised to use this new capital to accelerate their growth and continue to scale rapidly across the U.S. and around the globe and we are thrilled to be part of their journey.”
The brand will also allocate funds toward an upcoming on-premise arm of the business, which will offer wholesale distribution, product education, and unparalleled consumer data to enable restaurants, bars and hospitality properties to expand their non-alcoholic cocktail, spirit, and wine offerings. In order to sustainably integrate Boisson’s offerings into new locations, Boisson has partnered with Ford Electric Vehicles for zero emissions delivery to all on and off premise distribution accounts.
