Funding
US investor backs British start-up Smith & Sinclair with $2.6m to expand its alcoholic sweets
Smith & Sinclair, the award-winning disruptor of the food and beverage sector, has secured a multi-million dollar investment to further fund its innovative research and expand into international markets.
The London-based start-up, which developed the world’s first alcoholic cocktail gummies (patent-pending) allowing customers to consume alcohol in an entirely new way and literally ‘eat your drink’, has received £2m ($2.6m) from US investment fund Subversive Capital, valuing the company at more than £6m ($4.54m).
Smith & Sinclair, which started by selling alcoholic sweets in a London market, is already backed by Richard Branson.
After launching the ‘world’s first’ alcoholic cocktail gummies’ the company is set to launch the ‘UK’s first’ edible fragrance.
“This is a transformational deal which will help us inject some much-needed innovation back into the nation’s shopping choices,” commented Melanie Goldsmith, who co-founded the brand with Emile Bernard in 2014.
“Confectionery should be fun for adults too; retail should surprise and delight. The crazy inventiveness of the past has been lost as today’s household brands have become more predictable. We want to bring that spirit back and celebrate the kind of Willy Wonka innovation that Britain was world renowned for in the past.”
Michael Auerbach of Subversive Capital said: “We fell in love with the brand from day one. They hooked us with their unique approach to delivering some truly disruptive products.
“There’s huge appetite for such unique food innovation and we see great potential in helping them in their expansion into the US and beyond. Smith & Sinclair can help make British confectionery a global success again.”
Smith & Sinclair is also launching the UK’s first new 'edible fragrance' – a fully wearable scent that promises to ‘bring the flavor of your drink to life, replacing the fruit wedge or cucumber slice with something far more playful, creating a unique twist that offers intrigue and an unforgettable experience’.
