Just six months after its launch, a functional soda brand called Living Things has secured a £500,000 pre-seed round to support its growth in the UK and across Europe.
Led by James Watt, the Co-Founder and former CEO of Brewdog, the round also included other experienced angel investors.
Since its launch last year, Living Things has proved popular with health-conscious consumers, offering a fruity soda with the benefits of prebiotics and probiotics. It has already sold over 100,000 cans, securing listings in more than 300 retailers, including Whole Foods, Amazon, Costcutter, and Budgens, as well as independent coffee shops and QSRs. It is on track for a run rate of over £1m before the end of 2024.
Further “prominent” grocery retail listings are expected by autumn, and expansion into Europe is also planned for the coming months.
Alongside his role as lead investor, Watt will be an adviser to Living Things, applying his expertise to scaling the business and opening up export opportunities.
The company noted that the European soft drinks market – valued at $50bn – is currently dominated by products high in sugar, sweeteners and additives, while the ‘better for you’ category remains underdeveloped.
Ben Vear, Co-Founder and CEO of Living Things, commented: “Demand for Living Things has been well beyond our early expectations, and securing support from James Watt is real validation of our team, product and brand and will help navigate our next phase of growth.
“Our fundraise will support us growing a best-in-class team and accelerate a stand-out product which improves gut health, helps consumers reduce sugar intake, and actually tastes good, too.”
Watt added: “The soda category is ripe for disruption and I believe that sodas that are significantly better for you than the incumbents are going to lead that charge.
“The Living Things brand and product are both incredible, the business is led by two fantastic entrepreneurs in Ben and Jonathan. I can’t wait to use my experience in drinks to help them scale this rapidly-growing business whilst having a positive impact on people’s health and wellbeing.”
