Premium soda brand Something & Nothing has raised £2m from private investors to help fund new products and launch advertising campaigns in the US and the Netherlands.
The round was led by the investment arm of water brand Spadel, with participation from Venrex, Anotherway and 37W founder Adam Levene. Entrepreneur Michael Vachon will also join as the company’s chairman. Vachon is the co-founder of high-end olive oil brand Citizens of Soil and also a co-founder of Maverick Drinks, a craft spirits distributor.
The funding will accelerate the brand’s expansion plans after it launched in 260 Whole Foods Market stores across the US and more than 2,000 stores across three major supermarket chains in the Netherlands.
“It’s a challenging time to raise investment, so we are really pleased to not only close the round, but to have the support and backing of our existing lead investors and to bring in some really impressive new strategic investors,” said co-founder Olly Dixon.
“The modern soda category is only going to continue to grow and Something & Nothing has a big part to play in its evolution.”
The brand last raised £1.5m in 2022 to help fuel US expansion after it launched into the country in 2020. More than half the company’s revenue is now generated in the US.
This week, Something & Nothing said US sales had more than doubled in the past year, outpacing category leaders such as Olipop and Poppi.
Poppi announced it had been acquired by PepsiCo for $2bn this week as the drinks giant looks to move into “healthier sodas”.
“The modern soda category is exploding, and we know that flavour and taste is what motivates consumers,” said co-founder Rupert Pugsley.
“Our customers are looking for quality minimal ingredients, rather than long lists of functional ingredients and sweeteners. We see clean ingredients with maximum taste as the next evolution of the modern soda category.”
The brand is set to launch new flavours in the UK and EU this week, including a pineapple & pink grapefruit, and a ginger & lime.
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