Lyre s to continue global expansion after $179m valuation theshout.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theshout.com.au Daily Mail and Mail on Sunday newspapers.
5th May 2021
Lyreâs, one of the worldâs leading independent non-alcoholic spirits brands, has completed a seed-plus funding round valuing the business at over £100m amid a rapidly expanding no/low alcohol spirits category.
This milestone has been achieved in under 24 months of trading, during which time Lyreâs has become one of the most widely distributed non-alcoholic spirits brands â now available in 43 countries â generating double-digit monthly revenue growth with annualised sales on course to exceed £35m by the fourth quarter of this year.
Lead institutional investors introduced in the latest funding tranche – Lyreâs third round since inception – include US-based Morgan Creek Capital Management (early-backers of Alibaba, SpaceX, Lyft, Drizly NinjaVan and Allbirds) and Bitburger Ventures (the investment arm of the German brewing dynasty). These enterprises joined existing investors, DLF Venture, VRD Ventures, SFO GmbH, Maropost Ventures