Naked Life easily pulls off $3 million raise on Birchal

- July 6, 2023 2 MIN READ
Naked Life founder David Andrews pouring a beverage
Naked Life founder David Andrews pouring one of his company's signature beverages. Photo: supplied
Non-alcoholic cocktail company Naked Life comfortably landed its $3 million raise on equity crowdfunding site Birchal that finished on Thursday night.

In the final 12 hours of the campaign, around 130 investors tipped the last $450,000 into Naked Life which easily walked away with what it sought from the funding drive.

Founder and managing director David Andrews said the company’s popularity has ballooned in the last three years, bringing investors to the table – or the bar – to get their own slice of Naked Life.

“We understand the mindset of people who drink non-alc and low-alc and that’s why our fanbase continues to grow exponentially,” Andrews said.

“People don’t just drink; they sip a rum, they nurse an espresso martini, or they debate the finer nuances of an Italian red. 

“Naked Life keeps you part of the party when you just don’t feel like alcohol.”

You’ve probably seen Naked Life drinks adorn shelves in the expanding no- and low-alcohol section of your local Coles and Woolies with the company claiming an 80 per cent market share in its emerging segment.

Fresh funding now secured, Naked Life is looking to work its way into First Choice and Dan Murphy’s liquor stores while selling at entertainment and hospital locations around the country – including Perth’s Optus Stadium where Naked Life has signed a multi-year deal.

Next comes the growing US and UK premium non-alcoholic beverage markets where Naked Life is already negotiating with distributors.

“We now have 15 products across Coles and Woolworths stores around Australia and have grown from $400,000 to almost $13 million in revenue in just three years,” Andrews said.

“We keep pinching ourselves because our little Aussie startup is now outselling brands like Heineken and Gordons.

Investors who piled in to get their Naked Life shares for $1.39 a pop were also treated to tiered rewards including vouchers, sample packs, and lifetime discount codes ranging from 15 to 25 per cent.

Andrews said his mission has been all about providing consumers with healthier choices.

“Our company wants to give every Australian a better option than lemon lime and bitters when they’re out drinking with their mates, and the money raised will help widen our reach so more people can live a healthier life without feeling left out,” he said.