JuneShine Closes Seed Financing Round

JuneShine, a San Diego, CA-based kombucha model, closed its undisclosed seed spherical of financing.

Backers included Crimson Mild Administration, Chris Hollod, Path Put up Ventures, founders of Thrive Market, Peter Rahal and Jared Smith of RXBAR, Nick Heldfond (early investor in KeVita kombucha), GC Capital, Cthulhu Ventures, in addition to main athletes Albee Layer, Sage Kotsenburg, Nora Vasconcellos, and Chris and Kimmy Benchetler.

The proceeds of the financing will likely be used for product and geographical enlargement, primarily within the types of constructing a bigger workforce and increasing manufacturing capability. To this finish, the corporate acquired the entire brewing belongings at Ballast Level’s Scripps Ranch facility. It anticipates opening Scripps Ranch for manufacturing and to the general public in summer season of 2019, paralleled by an enlargement each inside and outdoors of California.

Launched in June 2018 by Forrest Dein, Chief Artistic Officer, and Greg Serrao, CEO, JuneShine manufactures and sells natural exhausting (6.0% ABV) kombucha. Whereas a wide range of flavors are on draft, the corporate at the moment distributes 4 flavors in each cans and draft (Blood Orange Mint, Honey Ginger Lemon, Midnight Painkiller, and Cucumber Mojito). JuneShine is at the moment distributed all through San Diego and choose accounts in Orange County and Los Angeles, and sells product within the tasting room of their North Park (San Diego) primarily based brewery.

FinSMEs

13/02/2019