Premium tonic challenger Lixir has secured a seven-figure investment on the back of growing demand for its range of mixers.
New strategic investors joined with existing backers, including former Pernod Ricard commercial director Chris Ellis and Pure Gym founder Peter Roberts, to invest £1.1m in the future growth of the brand.
Lixir registered growth of 160% over the past year, driven in part by a distribution deal signed with Molson Coors in April 2021.
Founded in 2018 by bartending duo Matt Mahatme and Jordan Palmer, the company has since launched into 18 markets and is stocked in bars and restaurants across the UK, including food and retail outlet Boxpark, where it is the house mixer.
Lixir’s range of six tonics are made with natural ingredients and a reduced amount of quinine for a less bitter flavour. It also produces a ginger beer, ginger ale and a soda water.
Palmer said: “After making it through a challenging couple of years for the trade, we’re thrilled this new investment will allow us to really scale the brand – for us that looks like investing in new team members and activating the brand to reach as many new consumers as possible.”
Mahatme added: “We have a huge festival season lined up and this investment has enabled us to ensure that is the best possible representation of our brand, and we’ll also be rolling out a bespoke bottle and updated label design to further premiumise the range.”
As well as focusing on growth, Lixir is also working towards achieving B Corp status by the end of the year.
Chris Ellis, former commercial director of Pernod Ricard, said: “The business is now set to catapult into the next stage of its development, as we work towards building further in the on-trade and growing into new market segments in the UK and export markets.”
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