Spirits Technology Company ‘Next Century Spirits’ Closes $6 Million Series C Fundraising Round
Next Century Spirits, founded in Raleigh, North Carolina in 2018, is an advanced technology company that blends tradition with science, specializing in the creation of premium, cost-effective distilled spirits for startup craft brands to larger established brands.
Next Century Spirits has just closed on a $6 million Series C fundraising round. The most recent funding round was led by the Blue Hill Group, a private equity firm based in Chapel Hill. Since its inception the full-service spirits producer has raised capital from various private investors and angel networks including the Wolfpack Investor Network and Carolina Angel Network.
Next Century Spirits offers blending expertise to support private brands or labels and bulk suppliers interested in producing customized spirits concepts through its patented post-distillation finishing and filtering technology. Funding of Next Century Spirits follows industry recognition as “Best of Category Rum 2020” by the American Distilling Institute – ADI for its entry of Exalted Gold Rum in April.
“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,” said Scott Bolin, CEO of Next Century Spirits. “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.”
The latest funding will support Next Century Spirits in its expansion of staffing and production infrastructure to meet the industry’s growing need of a “one-stop-shop” for a wide range of spirits across a breadth of price offerings.
“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,” said Board member Steve Lerner of the Blue Hill Group. “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.”
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Next Century Spirits formulates, blends, and finishes custom-made spirits for distillers and brand owners around the world. The patented post-distillation finishing and filtering technology allows both existing brands and new market entrants to expand their repertoire of taste profiles, improve consistency, and raise overall quality in an economical manner.
Learn more about Next Century Spirits.