Next Century Spirits raises fresh capital to spur growth

US-based Next Century Spirits has raised $6m in the Series C fundraising round to fund its continuous growth.

The funding round was led by the Blue Hill Group, a Chapel Hill-based private equity firm.

Next Century Spirits CEO Scott Bolin said: “Our team is elated to secure a funding milestone during this global pandemic; our continued growth and future growth prospects have not gone unnoticed by investors.

“We proactively supported communities and local distilleries and breweries by shifting the use of our equipment to produce medical-grade hand sanitizer at a multi-state level including small businesses, medical facilities and military organizations.”

Established in 2018 in Raleigh, North Carolina, Next Century Spirits is a full-service spirits producer and has been offering its blending expertise to support private brands or labels that focus on producing customised spirits concepts.

For this, the company makes use of its patented post-distillation finishing and filtering technology.

Since its inception, Next Century has raised capital from various private investors and angel networks.

The new funding will be used by the company to enhance its production infrastructure to meet the rising demand for a one-stop-shop that offers a wide range of spirits as well as its staff members.

Blue Hill Group board member Steve Lerner said: “I am continually impressed with Next Century’s ability to provide high-quality spirits through its proprietary technology which is uniquely positioned for continued growth in the industry.

“The company has established a foothold in the market as startups and established brands alike look to innovation for a more diverse product portfolio to scale their business.”