Germany-based soft drinks brand Holy has successfully raised €10.5 million through a Series A funding round, with the intention of expanding its reach across Europe.
Leading the funding round was Left Lane Capital, a global venture capital firm, with participation from current investors FoodLabs and Simon Capital (previously recognized as Bitburger Ventures). Additional contributions came from V3 Ventures, a London-based consumer fund affiliated with the international consumer investment entity Verlinvest, as well as OMR’s venture arm, associated with the media company based in Hamburg. Notable figures from the food and beverage sector, including Bela Seebach, co-founder of Just Spices, and YFood’s founders Benjamin Kremer and Noel Bollmann, also took part in the round.
Established in Berlin in 2020, Holy introduces a line of powdered soft drinks. This innovative range is designed to present a more environmentally conscious and health-oriented substitute to conventional soft drinks. The brand achieves this by utilizing a reduced packaging waste format and incorporating natural ingredients.
Founder and CMO, Philipp Nass, said, “With low sugar, low calories, functional ingredients like vitamins, nootropics, antioxidants and fibre, as well as natural flavours and colours, our drinks really appeal to the next generation of consumers”.
Functioning as a direct-to-consumer (DTC) enterprise, the firm boasts over 200,000 customers spanning Germany, France, Austria, and Switzerland. These customers have embraced the Holy Energy and Holy Iced Tea offerings from the company’s product portfolio.
Amidst a present decline in direct-to-consumer (DTC) investments, the funding round has garnered recognition from investors as one of this year’s most fiercely contested consumer-focused campaigns. This achievement marks a noteworthy milestone, elevating Holy’s accumulated funding to €12.3 million. These funds are poised to bolster the brand’s ambitious objective of assuming a premier position as Europe’s healthier soft drink choice. The strategy encompasses diverse facets, such as introducing fresh product lines, venturing into untapped markets including the UK, and making inroads into retail distribution channels.
Mathias Horsch, Founder and Co-CEO, said, “Holy is currently a team of 25. Now we’re looking for new talent to fuel our product, geographic, and channel expansion as we accelerate our growth across Europe.”