Austin, Texas-based Ethyl Ambrosia, an edible alcohol technology company, has secured $450,000 in funding. The investor was Third Craft.
AUSTIN, Texas, May 28, 2020 /PRNewswire/ — Ethyl Ambrosia, a leader in edible alcohol technology, has secured a $450,000 funding round. Leading the company’s first financing round is Third Craft. The investment will be used to expand the company’s sales, marketing and rebranding efforts.
The female-founded company is best known for its vegan gel bites, an elevated and re-imagined twist to the jello shot. Differentiated both by packaging and formulation, the boozy bites are the perfect addition to any celebration. Rather than including gelatin (which is made from animal by-products), the boozy gel bites have three types of seaweed as ingredients, making them both vegan and naturally shelf stable. The product is 15% alcohol by volume and comes packaged in a patent-pending miniature champagne glass. The unique packaging includes a stem that twists and pushes the gel bite to the top of the glass, allowing the consumer to avoid touching the product.
“We are proud of the food and packaging innovation our team has developed to really disrupt this space. Our goal is to help people celebrate and connect, and we are excited to see that by applying this cutting-edge food technology and package design, we open up this fun and exciting product category to a whole new segment of consumers and higher end celebrations,” said CEO Dee Dee Bryant, “the venture firm not only brings capital to ramp up our efforts, but also brings significant strategic counsel in the food-and-beverage space.”
The food scientist behind these boozy gel bites is Mike Eisenmenger, PhD. Eisenmenger has been leading design, development, and commercialization of new food and beverage products for over ten years in industry and ten years in academia. His expertise in understanding and manipulation of the product-process-package interface has resulted in product launches generating over $600MM in new revenue for ConAgra Brands and then PepsiCo.
“Bringing my passion for food innovation to the alcohol industry and leveraging the latest in food science & technology to unlock Dee Dee’s vision has been an amazing & fun experience,” said Chief Science Officer Mike Eisenmenger, PhD, “it’s not often we get to elevate a product/experience to new heights like what is being done at Ethyl Ambrosia.”
The boozy gel bites are available in popular cocktail and drink flavors (Rosé, Mojito, Moscow Mule) and in Citrus Punch (a throwback to younger days). The boozy gel bites are currently being sold online at www.ethylambrosia.com and are delivered directly to consumers. The company also operates a tasting room in Austin, TX.
About Ethyl Ambrosia: Ethyl Ambrosia is an edible alcohol company founded by Dee Dee Bryant out of a love and passion for bringing people together. The company offers premium vegan gel shots conveniently delivered directly to the consumer, giving them the freedom of their younger years but with a sophisticated touch. To learn more or order Ethyl Ambrosia boozy gel shots, visit www.ethylambrosia.com. Follow Ethyl Ambrosia on Instagram and Facebook at @ethylambrosia.
About Third Craft:
Third Craft is an Austin, TX based private equity firm created to actively invest in challenger brands in the craft food and enabling infrastructure space. Our cross – discipline team brings significant competitive advantages to our partners who share our mission to address the massive need for consumers to live, eat and drink better. To learn more, visit www.thirdcraft.com.