UK-based non-alcoholic beer producer Fungtn has closed down its business.
The news was announced via a LinkedIn post today (16 April) by founder Zoey Henderson.
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In the statement, Henderson said the decision was made following more than “18 months of unsuccessful attempts to raise further capital to grow the brand in the US and UK”.
The closure is taking place with immediate effect, with the brand’s website no longer in action.
Henderson said Fungtn’s “assets, protected IP, customer list and all national and international contracts are available to acquire and I am opening conversations with interested parties”.
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She added: “I have worked hard to build a foundation for a truly innovative brand that still remains unique in the market and has huge potential, especially in North American markets.
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By GlobalData“There is great scope for an exciting brewer or brand collective to pick up and scale this brand and I hope that Fungtn can live on and live up to its full potential.”
Founded in 2020, Fungtn produced a range of 0.5% non-alcoholic beers, brewed with myco-adaptogens, or medicinal mushrooms.
Its portfolio included a Chaga lager, Reishi citra beer, Lion’s Mane IPA and shiitake dark lager.
The beers had been sold mainly through specialist online retailers in the UK, including Delli, Lassou, Chill.com, as well as the global online wholesale food and drink ordering platform Rekki.
Fungtn had also entered the US, Canada, Iceland and Singapore, Henderson said.
