MOTH, the UK's leading ready-to-drink (RTD) cocktail brand, has announced a £4.6m investment led by the ProVen VCTs. The raise follows an impressive three years of expansion for MOTH whose premium canned cocktails are now available in more than 3,000 UK supermarkets. MOTH also holds 41% share of the premium RTD category in the UK off-trade market, with a MOTH being sold every seven seconds.

This round of funding will be used to further solidify MOTH’s leadership of the UK market, accelerate growth in the US, and expand the MOTH team on both sides of the Atlantic. Having already delivered successful launches in Massachusetts and Florida in 2023, the company plans to open its first office in the US.

MOTH was launched by co-founders Rob Wallis and Sam Hunt in February 2021. The vision for the business has since been to enable consumers to access the cocktails that they love as easily as they might a can of beer or a glass of wine. Working alongside award-winning spirit partners, Rob and Sam have ensured quality, flavour, and convenience are at the heart of the MOTH experience.

Tapping into the growth of the RTD market - which industry data shows has been the fastest-growing drinks category since 2018 - MOTH has rapidly established itself as one of the UK’s leading cocktail brands. The MOTH Margarita is now the country’s most popular RTD margarita, serving a loyal community of cocktail lovers nationwide as part of a range of ten MOTH products, which also includes Aperitivo Spritz, Negroni, Espresso Martini, French 75, Piña Colada, Mojito, Old Fashioned, Cosmopolitan and Paloma.

The brand has subsequently experienced substantial commercial growth and traction, with annual revenues rising with annual revenues rising 200% in 2022 and 150% in 2023. To fuel this growth, MOTH’s team has expanded to 35 people in fewer than three years.

Sam Hunt, co-founder of MOTH, said: “We are incredibly proud of the journey MOTH has taken since our launch. This investment is a testament to our success and a crucial step in our next chapter. We are excited to expand our footprint in the US, bringing our bar-quality, ready-to-pour cocktails to even more consumers. Our mission remains the same – to deliver the most delicious cocktail experience, anytime, anywhere.”

Harry Thomas, Portfolio Director at Beringea, the investment manager of the ProVen VCTs, commented: “Rob and Sam have built a remarkable business. Not only has MOTH become one of the UK’s most exciting emerging brands – it has already begun to establish a foothold in the US, unlocking a vast opportunity for its next chapter of growth. This is a great team with fantastic prospects, and we look forward to seeing the business go from strength to strength.”