An up-and-coming San Diego startup is making a splash in the craft beverage industry by selling an alcoholic beverage that's better for you.
According to the San Diego Union-Tribune, JuneShine is a leader in the better-for-you hard kombucha craft beverage category.
On Monday, December 7, the company announced it had raised $24 million in the second round of funding led by Amberstone Ventures and Litani Ventures.
JuneShine was founded in 2018 by Greg Serrao and Forrest Dein who met at the University of San Diego.
They will use the money raised to increase production at its 30,000-square-foot Scripps Ranch brewing operation.
The company has plans to expand and increase its marketing to promote the emerging hard kombucha drink which is low-calorie and low-sugar.
“We have been really aggressive about building an organization that is bigger than our business and then growing into that business,” Serrao told the Union-Tribune. “We afford that by raising capital.”
Hard kombucha is carbonated and tends to have lower calories, less sugar, and even probiotics sometimes. San Diego has several kombucha breweries, according to the Union-Tribune.
“It is important to know that there were companies that came before us, and really the first company to gain traction with it was Boochcraft down in Chula Vista,” said Serrao. “We wouldn’t be where we are without them. It takes a few players to build a new category.”