hiyo is canning a mood.
What’s happening: The nonalcoholic social tonic maker raised a $20.8M Series B led by beer, wine, and spirits company Constellation Brands to scale across retail and entertainment.
Bottoms up. Crafted with adaptogens, nootropics, and botanicals, hiyo’s organic RTD elixirs deliver a proprietary mood-boosting “float” feeling, designed as a 1:1 replacement for alcohol in social situations.
Resonating with consumers, it’s on track to sell 1M+ cases this year. Building on last year’s $19M Series A, re-ups from Constellation Brands and Live Nation will help it push into 13K+ retail doors while further integrating with hospitality and live events.
Buzzing. For younger consumers, drink choice is a form of self-expression — driving functional beverage sales up 147% over four years to $31.3B, per NielsenIQ.
Imbibing yet conscious of the harms of classic vices, a new wave of “social tonics” are selling them altered states with added health benefits — with Recess, TRIP, and Neutonic recently raising funding for bevs that match vibe, mood, and occasion.
Punchline: From wellness shots to cannabis drinks, consumers now require their beverages to do something. For hiyo, that means facilitating IRL connection.
