FRAMINGHAM, Mass.– Leading “better-for-you” alcohol company, Fermented Sciences, Inc. DBA Flying Embers (“Flying Embers”), announced the closing of $ 10 million in new funding, bringing the series total B from the company to $ 35 million. The new funding was led by investment vehicles from the Santo Domingo Group, advised by Quadrant Capital Advisors (“Quadrant”), and included participation from existing investors from Flying Embers, Ecosystem Integrity Fund, PowerPlant Ventures and others.
Flying Embers quickly became a national leader in the hard kombucha category and will now use the additional investment to expand into new categories such as hard seltzer. Bill Moses, Founder and CEO of Flying Embers, said: “This new funding will help Flying Embers continue its rapid nationwide expansion, refine our manufacturing capabilities, further develop our direct-to-consumer business and launch revolutionary innovations in new categories of alcohol.
“Quadrant views the Flying Embers brand as strategically positioned to disrupt the alcoholic beverage market with innovative product lines aligned with current and future consumer trends and is delighted to join Bill and his highly skilled team to help create a platform. iconic form of alcoholic beverages, ”added Juan Carlos Garcia, CEO of Quadrant.
“Whipstitch Capital couldn’t have found a better partner for us. We are delighted that the Santo Domingo Group is joining us; their global reach and deep understanding of the alcohol category will be a huge asset, ”added Moses.
“Flying Embers’ products are unparalleled in terms of functionality, attributes and flavor as a whole. And the new innovation to come is amazing; no competitor we’ve seen comes close to what Flying Embers creates, ”added Michael Burgmaier, Managing Director of Whipstitch Capital. “We see Flying Embers as a brand that has the potential to shape the future of the alcoholic beverage industry. “
“Flying Embers is winning in key early adopters markets and has unique potential to disrupt the entire alcohol market,” said Nicolas McCoy, Managing Director of Whipstitch Capital.
Moses added, “This investment is in addition to our existing war chest to support the business over a long period of time. Whipstitch Capital has helped bring a group of world class investors to Flying Embers and we are delighted that Quadrant’s Ben Brooksby is joining our board of directors.
Later this summer, the Flying Embers brand will add to its expanding portfolio with the release of a new line of hard seltzer. In what they describe as “the new form of seltzer,” Flying Embers Hard Seltzer is the world’s first probiotic-powered hard seltzer with antioxidants and all USDA organic ingredients. This new entry in the fast growing category will deliver delicious and unique flavor combinations, and meet consumers’ need for healthier options with just 95 calories, 0 sugars, 0 carbs, USDA organic ingredients, live probiotics and l Antioxidant Vitamin C The product has already generated significant buzz within distributor and retailer networks and continues to gain traction until its launch.
Founded in Ojai, California, Flying Embers has established itself as the best-for-you alcohol brand. The company’s first line of handcrafted hard kombuchas has an ABV ranging from 4.5% to 7.2%. Dry Fermented Sparkling Kombuchas contain zero grams of sugar and zero carbs, while using only USDA organic ingredients. Brewed with an adaptogenic root blend, Flying Embers hard kombucha is gluten-free, vegan, non-GMO, keto-friendly, and contains live probiotics. Using a proprietary process, Flying Embers hard kombuchas are shelf stable while maintaining living probiotic cultures, but are never pasteurized and always raw. The brand offers six refreshing base flavors, including pineapple chili, black cherry, grapefruit, berry, lemon and ginger.
Whipstitch Capital acted as the exclusive financial advisor to Fermented Sciences in this transaction.
For more information on Flying Embers and to find places where you can buy, please click here and follow on Facebook, Instagram and Twitter. About Flying EmbersFlying Embers, part of Fermented Sciences Inc, is a handcrafted hard drink brand based in Ventura, California that develops flavorful botanical infusions with functional benefits. With a commitment to innovation, Flying Embers products are low in sugar, carbohydrates and calories, while exhibiting attributes such as live probiotics, adaptogens and USDA certified organic ingredients. A proud supporter of its community, Flying Embers donates a portion of its income to firefighters and first responder charities out of respect for their service. Flying Embers was founded in 2017 by beverage entrepreneur Bill Moses, former CEO of Kevita Sparkling Probiotics, which sold to PepsiCo in 2016. Today, Flying Embers has two faucet rooms in Los Angeles and Boston, and its products are sold in 40 states across the United States To learn more, click here or @FlyingEmbersBrew.
About the Santo Domingo Group and Quadrant Capital
Santo Domingo Group is an institutional family office advised by Quadrant Capital. Quadrant is based in New York, where Juan Carlos Garcia is Managing Director. ABOUT Whipstitch Capital Whipstitch Capital is the largest independent private investment bank in the United States focused solely on the consumer best-for-you sector, specializing in buy-side and sell-side M&A and private placements. Whipstitch understands that every situation, every business and every product is unique. We’re listening. We focus. We offer honesty and transparency. We do business. We create the “whip point” of the agreement. Prepare to treat TM differently.