MOTH raises £11m led by Puma Growth Partners with participation from Beringea
This article covers MOTH, a ready-to-drink canned cocktail startup, which has raised £11m in a growth funding round led by Puma Growth Partners with participation from Beringea, Guinness Ventures and Rianta Capital. The funding will be used to deepen MOTH's UK retail presence, particularly in the convenience channel, and to accelerate its expansion in the US, supporting growth in the ready-to-drink cocktail sector.
MOTH, the ready-to-drink canned cocktail company, has raised £11m in a growth funding round led by Puma Growth Partners, with participation from Beringea, Guinness Ventures and Rianta Capital. The cash will be used to deepen MOTH’s UK retail footprint—with a specific push into the convenience channel—and to accelerate expansion in the US, where the brand has already established a presence.
Why it matters
The deal underlines how quickly the ready-to-drink (RTD) cocktail category is maturing. Canned cocktails now account for 27% of the UK’s £787m RTD market and grew 64% in the past year. MOTH says it is the No.2 RTD brand in UK grocery and is selling one can every four seconds, figures that support investor interest in the category.
MOTH’s financial momentum is notable: turnover reached £20.9m, up 67% year on year and 146% over two years, which the company says is three times the growth rate of the wider category. For investors, that combination of growth, repeat purchase and retail distribution is a straightforward signal for further backing.
Inside the product
MOTH sells a range of 12 canned cocktails, led by its top SKU, the MOTH Margarita. The drinks are made with award-winning spirits and packaged in fully recyclable cans. The product positioning is simple: a premium canned cocktail intended as an alternative to bar-made cocktails, sold through grocery, convenience and selected US retailers.
In the US, MOTH is active across states including California, Florida and Illinois, and is stocked in retailers such as Whole Foods Market, Target, Trader Joe’s and Binny’s. The company says cocktail RTDs are outpacing the wider US RTD category, which provides a growth runway if the brand can convert trial into repeat purchase at scale.
Who are the investors?
The round was led by Puma Growth Partners, with participation from Beringea, Guinness Ventures and Rianta Capital. Puma has positioned itself behind brands that are scaling in retail, while Beringea brings a transatlantic presence that the founders say has supported US expansion.
In the announcement, Ben Leslie, Investor at Puma Growth Partners, said:
MOTH is one of the most exciting brands in RTD and we are delighted to have led the company's latest investment. The team has built impressive momentum across both grocery and convenience in the UK, with clear evidence of repeat purchase and market share gains and now setting sights on replicating that success in the US. We're excited to be backing a business that understands how to win in a rapidly evolving category and has a clear plan for scaling in the UK and internationally.
In the announcement, Harry Thomas, Partner at Beringea, said:
As early backers of MOTH, it was clear the business had the ingredients of a standout consumer brand: a clear proposition, an exceptional product, and a team with real ambition. Since our initial investment, Rob, Sam, and the team have translated that promise into impressive growth, not least in the US, where Beringea's transatlantic presence and network have supported their expansion. We're delighted to continue backing MOTH as it builds a category-defining drinks business.
In the announcement, Adam Barker, Investor at Guinness Ventures, said:
What gives us confidence in MOTH is the rigour behind the growth. The team makes investment decisions backed by evidence and scales only what they've proven works, a discipline that matters enormously as the business expands internationally. We're proud to continue backing a management team that pairs real ambition with that kind of judgement.
Alongside these quotes, the investor case focuses on repeat purchase metrics, category share gains in grocery and convenience, and the ability to replicate UK success in the US using established retail partners.
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Founder perspective
In the announcement, Sam Hunt, Co-founder at MOTH, said:
When we started MOTH, the idea that a cocktail from a can could genuinely be delicious and rival one from a bar felt like a provocation. Now we're selling one every four seconds and the momentum we're seeing across grocery and convenience is the strongest it's ever been. This raise is about taking that conviction deeper across the UK and America and we're grateful to have attracted investors who understand our ambition and what we're building at MOTH.
The founders’ emphasis is on proving product quality and building measured, repeatable channels before scaling further, a strategy investors cite as de-risking international expansion.
The bigger picture
This funding round highlights two broader trends in consumer venture funding. First, investors are prepared to back premium FMCG concepts that demonstrate strong repeat purchase and retail traction. Second, the RTD cocktail category is becoming geographically transferable: success in UK grocery and convenience can be leveraged into US retail if distribution and margins hold up.
For the UK ecosystem, the deal is a reminder that consumer brands with data-driven growth playbooks can still attract institutional growth capital. If MOTH executes on its plan to deepen convenience distribution and translate US trials into repeat customers, the company could set a template for other beverage startups seeking cross-border expansion.
The round also reflects sustained investor appetite for consumer goods that combine sustainability credentials and clear retail routes to market, a theme likely to remain relevant for UK and European startups aiming to scale internationally.
They've invested in MOTH
Get to know these B2C investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Puma Growth Partners( ) Partners for Growth is the private equity division of Puma Capital Group, invest... London  | ||||
 Beringea( ) Beringea is a venture capital firm focused on empowering visionary entrepreneurs... London | ||||
 Guiness Asset Management( ) Guinness Global Investors is an independent fund manager focusing on long-only e... London | ||||
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