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.
We break down how fitness, wellness, and healthcare are converging — and what it means for business, culture, and capital.
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