Low-alcohol beverages keep on rising in popularity – Finnish Kåska raises company valuation to EUR 1,7 million
The global interest towards low-alcoholic beverages keeps on rising rapidly, with low-alcohol spirits leading the charge(IWSR 2021). Finnish Kåska Ltd recently closed their most recent funding round, enabling the introduction of multiple, groundbreaking low-alcoholic products to the market during this year.
Helsinki based Kåska, founded in 2019, has gained funding of around EUR 300 000. With the new funding, the valuation of Kåska is raised to EUR 1,7 million. With the help of the new funding, Kåska Ltd is now focusing on the development and launching of new products. The company recently launched two innovative spirit “concentrates” for the purpose of making low-alcoholic drinks. The most recent one, a bitter aperitivo concentrate sold under the name Smål Boosted Aperitivo, is the first of its kind in the global spirits market.
Investors show great trust in the Kåska team and the low alcohol market potential
Kåska conducted the latest funding round in a closed format, as only the current shareholders were offered to increase their share as a thank you for the trust they’ve shown towards the company so far. One of the strong supporters who joined the round is a local angel investor Anders Brotherus
– I strongly believe in the future represented by Kåska; the tidal wave of the low-alcohol trend is getting impossible to be left unnoticed. On top of the enormous market potential, the Kåska team has shown how world class innovations are created and are made available for consumers, Brotherus says.
The main investor of the round was a Finnish food & beverage investment company Heino Group Ltd. Besides the funding, both companies are looking to deepen their relationship even more in the future. Jasper Heino, a finance professional and a member of the board of Heino Group Ltd sees a great potential in Kåska.
– There is a great growth in the low- and no-alcohol sector, and we think it’s great being one of the pioneers creating this category together with Kåska. The big manufacturers are also starting to wake up now, but Kåska has exceptional open-mindedness and innovative ways of working. As investors we strongly believe in the Kåska team, they have plenty of know-how and dedication. On top of their unique flair, Kåska has credibility in terms of being able to provide what they promise, Heino explains.
Global interest towards Finnish innovations
In the future the company’s products can be found in multiple European countries. Most recently the products were made available in Denmark, where the landing of the unique products have caught the eye of local media and restaurant industry professionals.
– The feedback has been very positive, there is clearly a demand for these kinds of products, says the founder of the company Fred Karlsson. – It’s great to be able to meet this demand by bringing new, even more imaginative products to the market.
Low-alc spirits are the fastest growing segment within alcoholic beverages
According to the recently published trend report published by Finnish, government run alcohol monopol Alko, consumers are now focusing more on their wellbeing by choosing low- or no-alcohol beverages instead of the more traditional options. The trend was strongly backed up by the International Wine and Spirits Research report (IWSR 2021) that showed a rapid growth within the low-alcohol spirits in the past few years. During 2019-2020 the sector experienced almost 80% growth per year, while in 2019 traditional spirits were consumed 5,6% less compared to the previous year.
– The low-alcohol spirits category is still very young and the future innovations are being made now. We wan’t to keep our role as a pioneer in the category and with the new funding we are able to bring multiple new products in the market, that are completely going to reshape the way we see adult beverages, rejoices the founder and product development manager of Kåska, Eetu Topo.
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