On the second-to-last day of “Dry January,” The Zero Proof, an Atlanta-based pioneer in the adult non-alcoholic beverage market, announced a Series A funding round, spearheaded by Asahi Group Beverages & Innovation, the venture arm of the global beverage conglomerate Asahi Group Holdings, Ltd. Existing investor Overline and new entrant Springdale Ventures also participated in the round, according to a press release.
The company, known for being the first dedicated online retailer, importer, and supplier in the growing non-alcohol sector, said it will use the funding to hire sales personnel in an attempt to broaden its distribution network across the nation, enhance its retail presence, and diversify its wholesale portfolio.
Sean Goldsmith, CEO and co-founder of The Zero Proof, said: “It’s a pivotal moment for the adult non-alcoholic category. This funding will catalyze our growth, enabling us to fortify our omnichannel distribution and enrich our portfolio of high-quality, non-alcoholic beverages.”
The company, which has a direct-to-consumer e-commerce platform, is the exclusive U.S. importer of non-alcoholic brands such as Gnista from Sweden and Denmark’s ISH. It has also been developing its own brands, like Lapo’s Italian aperitivos and digestivos.
According to market research firm IWSR, the U.S. non-alcoholic beverage market, valued at over $1.8 billion, is expected to capture nearly 4% of total alcohol volumes in key global markets by 2027. This growth is largely driven by Millennials, who are increasingly choosing non-alcoholic options alongside traditional alcoholic drinks.
In a press release, The Zero Proof said revenue grew 300% in Q4 from 2022 to 2023, with expectations for continued growth following “Dry January.”
