Uncle Arnie’s, a rapidly growing THC and hemp-infused beverage brand in the U.S., has closed a $7.5 million Series A funding round to support its expansion. Co-led by Mindset Capital and Delta Emerald Ventures, the round also includes investor Harry Rubin, a founding partner of the Boston Beer Company, who is joining the board of directors.
This funding will allow Uncle Arnie’s to expand its team from 40 to 75 employees and enter new state markets while reinforcing its presence in existing high-performing areas. The company has experienced nearly 100% year-over-year growth since its founding in California in 2020 and aims to sustain this momentum through 2026.
In 2024, Uncle Arnie’s will branch into the growing hemp-derived THC category, leveraging its expertise to establish a strong retail presence. The company recently appointed Brian Miesieski, a beverage industry veteran, as Chief Marketing Officer to lead brand strategy and national marketing efforts.
Impressed by the company’s operational strength, Ian Dominguez, CIO of Delta Emerald Ventures, praised Uncle Arnie’s for its brand strength and market execution, positioning it for long-term success.
Currently in 16 markets, Uncle Arnie’s plans to expand into three more soon, further building on its five years of success in the cannabis beverage space and reinforcing its path toward category leadership.
Support: Lowenstein Sandler represented Uncle Arnie’s in the fundraising.
KEY QUOTES:
“This funding marks an exciting milestone as we build on five years of success in the cannabis beverage market. That experience has given us the brand strength and operational foundation to win in the rapidly expanding hemp-derived THC space — where we see even greater potential for mainstream adoption.”
Theo Terris, CEO of Uncle Arnie’s
“Uncle Arnie’s is a rare brand that’s winning everywhere it competes, with triple-digit growth and the #1 position in some of the most competitive THC beverage markets. This raise pours fuel on a fire that’s already blazing, with a management team ready to lead the category nationally. Having an industry pioneer like Harry Rubin join the board only strengthens the company’s ability to seize the moment.”
Aaron Edelheit, CEO of Mindset Capital
