CALGARY, ALTA. — Partake Brewing, a non-alcoholic beer brand, has raised $16.5 million in a Series B funding round led by PowerPlant Partners and Amberstone.
Founded in 2017, Partake Brewing’s low-calorie, zero-proof offerings include India pale ale, stout, pale ale, peach gose and more. The new funding will support continued growth and increased distribution across key channels in the United States and Canada. The company also plans to add more limited releases to its lineup and expand its team.
Ted Fleming, founder and chief executive officer of Partake Brewing, is a former engineer who eliminated alcohol from his lifestyle several years ago due to health issues. Back then, few high-quality non-alcoholic options existed, and abstaining in social settings proved challenging or isolating. The non-alcoholic market has since exploded and is estimated to reach $5 billion in sales by 2025.
“We’re thrilled to partner with Ted and the Partake team as they build what we believe will be one of the leading brands in this soon-to-be multi-billion-dollar new category,” said Mark Rampolla, co-founder and managing director of PowerPlant Partners. “I’m personally a regular Partake consumer, and I know I’m not alone as so many beer lovers look for healthier, but great tasting NA options.”
Also participating in the funding round were existing investors CircleUp Growth Partners, Barrel Ventures and McLean & Associates. Previously, Partake Brewing raised $4 million in funding. The company continues to partner with Export Development Canada as it grows internationally.
“It has been an incredible journey growing Partake at such an accelerated rate, and we are honored to have these investors’ significant support behind us as we further expand on our mission to create a more inclusive drinking culture,” Mr. Fleming said. “We look forward to the continued growth these investments will allow us to make in the near future.”
