London law firm, iLaw, has helped TV star Spencer Matthews to raise £2 million for his brand The Clean Liquor Company through international investment firm Lightspeed Venture Partners and other investors.
Working with the firm, the brand beat 50 other competitors to be selected as Lightspeed’s “global leader in the low- and no-alcohol category”.
Assisting at all stages of the investment deal, iLaw worked with The Clean Liquor Company to make the transaction go smoothly.
The Clean Liquor Company was launched in November last year with its first product Clean Gin, which again was supported by the experienced team at iLaw, who assisted with the various stages of the company’s formation, including the registration of the brand’s trade marks and its manufacturing contracts, to ensure the product was delivered on time.
Speaking about his latest fundraising in a statement from the Clean Liquor Company, Spencer Matthews said: “The Clean Liquor Company was born out of a passion to make no and low alcohol products positive,
“Rather than non-alcoholic, non-flavour, non-fun, we wanted to create something that answered the demand for quality and flavour but without the negative effects of alcohol.”
Clean Gin has sold out twice nationally since its launch and is now stocked at almost 500 Sainsbury’s stores across the country.
The new investment it has secured will go towards its expansion into new regions, including India, Singapore, Australia and the US, as well as its ongoing development of a low alcohol rum.
Justin Ellis, a Partner at iLaw, said: “We are delighted to see that with our help, The Clean Liquor Company has managed to secure this funding through Lightspeed Venture Partners.
“This was a competitive bid that saw the brand face off against many big names in the industry to secure this important funding. With big plans for the future, I am sure Spencer and his team have much success ahead of them. And I look forward to trying the rum!”
The no and low-alcohol industry in the UK is growing rapidly, with the latest industry figures suggesting that the sector is already worth more than £60 million a year.