Venture capital used to be the ultimate sign of legitimacy for an emerging beverage brand. Several meetings, a term sheet, and a healthy press cycle later, you could buy yourself some time (and validation).
But for many founders in the alcohol alternatives space, VC has never been the obvious route. Especially in the early years—when investors were still deciding whether this was a passing trend or a sticky category—founders had to get creative.
The Early Adopters
When Monday launched its first investment campaign in 2021, it was one of a few non-alcoholic spirit brands on the market. They went live on Republic, a community investment platform that lets everyday consumers become shareholders.
The results spoke for themselves:
- $898,000 raised from 1,366 investors
- Fully funded in under two months
Their strategy hinged on early DTC traction and a compelling campaign. It worked because they tapped into their existing audience with a clear mission.
Why That Strategy Still Works
Four years later, the alcohol alternatives category has evolved, and so has the fundraising environment. VC capital has tightened, especially for consumer packaged goods.
Meanwhile, crowdfunding platforms like Republic and WeFunder have become far more sophisticated, offering compliance support, built-in investor networks, and more visibility than ever before.
Just this summer, Spirits of Virtue, a Scotland-based non-alcoholic spirits brand, raised over £424,000 from 156 investors, surpassing its £400K target. This wasn’t a moonshot idea looking for a lifeline; it was a scaling business using crowdfunding to bring its consumers along for the ride. The company had already generated more than £3 million in sales, operated a private-label manufacturing facility in Glasgow, and distributed to 16 countries.
Similarly, Kin Euphorics, one of the earliest functional beverage pioneers, recently reopened its investment campaign. With a $60B total addressable market and celebrity co-founder Bella Hadid in its corner, the raise is doubling as both capital generation and brand storytelling. At time of writing, the target raise is already 156% subscribed.
But It’s Not Always a Straight Line
Of course, not every campaign crosses the finish line.
One online non-alcoholic bottle shop launched a Republic campaign to expand into physical retail. Despite initial press attention, the campaign ultimately brought in less than 15% of its $1,000,000 target.
Even with a good story, audience reach still matters. Without consistent distribution of that story beyond an earned media splash, the momentum can dry up. Crowdfunding success isn’t only about communicating your vision. It’s about how well you can sustain attention for 60–90 days straight.
The Rise of “Community Capital”
Crowdfunding solves a funding gap, but it also builds advocates. That’s why some founders are leaning into smaller, more targeted platforms like Kickstarter, where storytelling and shared values matter as much as projections.
In 2025, Tomonotomo, an all-natural, non-alcoholic agave spirit handcrafted in Oaxaca, raised over $11,000 on Kickstarter to launch its first run. Founder Amanda Chen used the campaign not only to fund production, but also to build an early audience invested in her brand’s story.
It’s proof that, for mission-driven founders, community funding can be more than a financial tool. It can be a launch strategy.
Lessons for Brands Considering a Raise
For founders weighing whether to pursue VC, angel, or crowdfunding capital, the best approach often depends on timing and audience. A few key lessons have emerged across recent raises:
1. Treat Your Raise Like A Marketing Campaign
The success of Monday, Kin, and Spirits of Virtue’s campaigns was all about visibility. These brands already had robust content pipelines before launch. They didn’t wait until their campaigns were live to start building excitement.
2. Start Building Your List ASAP
Your audience can be your investor base. Use your email list, community groups, and owned channels to educate your followers months in advance. A raise should act as a conversion funnel.
3. Diversify Your Reach
Earned media from outlets like BevNET or Forbes helps legitimize your raise, while owned media like your email list keeps your core audience engaged. Paid channels can amplify both, but be careful to comply with restrictions on investment opportunity advertising.
4. Think Long-Term
Raising through your community isn’t just a one-time transaction. Those early investors become future advocates. Consider how you’ll keep them informed after the raise closes.
What This Means for the Industry
Crowdfunding isn’t replacing VC, but it is complementing it.
For some founders, especially in the early stages, it’s a bridge between proof of concept and institutional capital. For others, it’s a deliberate choice to keep ownership in the hands of the people who actually buy the product.
As the alcohol alternatives category matures, the distinction between “investor” and “consumer” will continue to blur. And that’s a good thing.
After all, this industry was built by the community long before the capital showed up.
