DrinkWell secures £600,000 investment

Low-calorie drinks retailer DrinkWell has received a £600,000 (US$776,176) investment to drive its global development.

The online marketplace will use the funding to support innovation, bring new products to the market and expand international trade.

DrinkWell specialises in lower-calorie alcoholic beverages, and sells to more than 75,000 consumers in the UK.

Between 2021-2022, DrinkWell posted 50% year-on-year growth.

Founder and managing director Tom Bell said: “The stars are aligning for DrinkWell, both as a marketplace and as a leading, innovative brand creator in the drinks industry.

“The team has worked incredibly hard over the past 10 years to ensure we are consistently at the forefront of the reduced-calorie alcohol market, bringing exciting new products that never compromise on taste.”

DrinkWell was launched in 2015 with an aim to educate consumers on alcohol alternatives that only compromise on ‘calories, and not taste’.

Bell continued: “Since the pandemic, there has been a huge shift in consumers’ drinking habits, with more and more people choosing to drink at home and therefore purchase alcohol online.

“Consumers are also becoming more motivated by healthier alternatives, so it is vital we continue to innovate and develop our product offering with this funding, in order to cater to this increasing demand.”

Bell has been campaigning for greater awareness of calorie numbers in alcoholic drinks for the past three years, calling for up-to-date nutritional labelling across all alcoholic products and menus.

He added: “When legislation inevitably changes to include nutritional information for alcohol on labels and menus, we want to be seen as the ‘go-to’ provider of lower-calorie alcohol. We believe that with this funding, we are in the strongest possible position to do so.”

Last month, Cornwall Distillery received £1 million (US$1.2m) after selling a minority stake in the business to the owners of Cornwall’s Ince Castle Estate.