RALEIGH – Next Century Spirits, a startup focusing on technology for the distilled spirits market that is promising “revolutionary whiskey,” is getting financial and leadership backing from a heir of the founders of the Seagram’s liquor company.
Matthew Bronfman is now the chair of Next Century Spirits after an investment firm he backs – Blue Hill Group – decided to invest $3.6 million in the recently launched firm.
Next Century Spirits is a spinoff from Raleigh-based Anavo Technologies, which is led by Scott Bolin as CEO. Its executive chair is long-time Triangle investor Chris Evans. Bolin also was the founding CEO of Next Century Spirits.
Blue Hill Group recently invested in Tethis, another startup backed by Evans.
The funding was announced Monday.
“I have been most impressed by the quality and consistency of the products produced by Next Century Spirits and the traction that the company has already gained in the industry,” Bronfman said in the funding announcement.
What New Century Spirits offers:
“Our new processing technology creates a tool for the traditional distiller to expand their repertoire of achievable flavors and aromas, while improving quality, maintaining consistency, and reducing supply chain issues. This technology allows for tight control over the entire production process and maturation system, resulting in the ability to create bold, complex flavor profiles faster than any other distilled spirits group in the world.”
Highlights:
Source: New Century Spirits
Next Century Spirits operates a distillery in Durham that the company says can produce some 300,000 liters of product a year.
“We are thrilled to welcome Matthew,” Bolin said, “A seasoned businessman and sophisticated investor, his influence will have a tremendous impact on Next Century Spirits as the company transitions from startup to a more mature operation.”
According to the company, Next Century Spirits “blends traditional distilling techniques and unique finishing technologies to create enhanced spirits. The company’s proprietary technology allows traditional distillers to expand their repertoire of flavors and aromas while improving quality, maintaining consistency, and reducing supply chain issues.”