Lyre's Non-Alcoholic Spirits skyrockets to $500M valuation
Update: 2021-12-01
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A podcast for lovers of wine, beer, liquor (incl. whisky, whiskey, bourbon, gin, vodka, tequila etc) and cocktails, Drinks Adventures hosts wine makers, brewing and distilling experts, sommeliers, bartenders & more.
Just one story again in this week’s edition of the news.
There's been a huge amount of noise around non-alcoholic wine, beer and spirits in recent years.
And now, Lyre’s Non-Alcoholic Spirits has completed a capital raising that values the business at $500 million AUD.
This valuation has been achieved in less than two and a half years of trading for the Australian company founded in Sydney in 2019.
It’s now on track to become the fastest independent beverage brand to reach Unicorn status, meaning a valuation in excess of $1 billion US.
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There’s been no shortage of naysayers about the concept of non-alcoholic spirits and I’ll admit to being a little sceptical when Lyre’s founder Mark Livings first told me what he had planned.
He says this latest funding milestone is clear evidence that non-alcoholic spirits are here to stay.
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