London-based VC fund Futurecraft Ventures, with offices in Abu Dhabi and Dubai has announced a significant investment in Lyre’s — a non-alcoholic beverage company garnering global awards and attention, particularly in the Middle East.
Futurecraft estimates the value of its portfolio at about $200 million in capital and has a reputation for identifying start-ups primed for growth. Targeting high-potential start-ups in emerging markets such as the UAE. With a team of serial entrepreneurs at the helm, the fund combines fintech, AR/VR, and crypto expertise to shape the future of multiple industries.
Futurecraft Ventures continues to make strategic investments that align with emerging societal trends. The firm's portfolio includes Shariah-compliant digital currency Islamic Coin, open-banking solution Monerchy, digital asset exchange Haqqex, and forex trading platform Exfor.
Lyre’s Beverages
Founded in 2019, Lyre’s has snowballed into the world's leading independent non-alcoholic spirits brand, selling in over 60 countries, and stocked in 20 of the world's top 50 bars. With a team of passionate individuals led by co-founders Mark Livings and Carl Hartmann, the brand took on a mission to change how we socialize and think about beverages.
After years of meticulous crafting, Lyre’s has created an exquisite range of non-alcoholic drinks that retain traditional spirit taste, look, and experience, providing a unique alternative for those who wish to remain sober. Their expanding product line is capable of recreating 90% of the world's best-selling cocktails.
Lyre’s is positioned as an inclusive drink, giving those that cannot drink spirits a high-quality alternative. It also offers a unique solution to the societal issues often associated with alcohol. The brand aims to curb the growing trajectory of alcohol-related crimes while ensuring that individuals can still retain the taste of their favourite spirits.
Their enthusiastic customer base showcases the company’s success, with an overwhelming 74% expressing their appreciation for the brand. Lyre’s is also a brand firmly committed to sustainability and social responsibility. The brand only manufactures from four locations to reduce its environmental footprint, all its packaging is 100% recycled, and its products are exclusively vegan, reflecting a dedication to a healthier and more sustainable world.
The company recently raised £18 million in its latest strategic funding round while entering new markets like Qatar, and eyeing other potential MENA regions for investments.
