Australian alcohol subscription service Liquor Loot has secured $1.5 million in additional funding from an investor group led by Tony Gandel from Gandel Invest.
Whisky Loot and its sister site Gin Loot offer 60ml tasting bottles of spirits as opposed to full bottles, which enable consumers to try a variety of spirits and learn more about them.
Liquor Loot said this latest raise will provide capital at a time of significant growth for the business – it made more than 40,000 deliveries in 2020 and is on track to double this in 2021.
In June, Liquor Loot CEO Joel Hauer (above) told Drinks Digest that spirit subscription services are booming.
“We’re seeing an influx of consumers who resonate with the idea of tasting rather than buying full bottles,” he said. “Our unique model allows for discovery and education. We are witnessing a new way people want to discover their favourite spirits, coupled with a less volume, higher quality consumer consumption trend.”
Whisky Loot was founded in 2016, with the aim of shaking up Australia’s online whisky market. Every box sent to its subscriber list includes three 60ml tasting bottles, paired with tasting notes created by its team of whisky sommeliers. Hauer announced the launch of Gin Loot last year, which offers a similar subscription model, to capitalise on the growing popularity of the gin category in Australia.
Following on from tripling in revenue every year since launch, Liquor Loot, opened its $1.5 million round of funding, with notable investments from Gandel Invest as well as a continued investment from past investors, such as Koala founder, Dany Milham.
Gandel is bullish about Liquor Loot’s growth locally as well as potentially launching in overseas markets such as Asia and the US. It said there was a strong history of Australian direct to consumer companies, such as Koala, enjoying rapid success in these markets.
In 2021, Liquor Loot has continue to grow its relationships with distilleries including Diageo, Pernod Ricard, Moët Hennessy and Proximo, while further expanding its retail footprint through partnerships with David Jones, ALDI and Qantas.
“While I am very proud of what we have achieved to date, I believe we are still at the beginning of our journey,” explained Hauer. “We have the vision, and are determined to create a global category leader from Australia.”