Cannabis beverage brand Uncle Arnie’s has closed a $7.5 million Series A growth raise to fuel its next phase of expansion. The round was co-led by Mindset Capital and Delta Emerald Ventures, with participation from investor Harry Rubin, a founding partner of the Boston Beer Company (producer of Samuel Adams beer), who joins the company’s board of directors.
The Series A will enable Uncle Arnie’s to nearly double its team from 40 to 75 employees over the next year, expand into new state markets and deepen its presence in high-performing regions, according to the company. Uncle Arnie’s has achieved close to 100% year-over-year growth since inception and projects the same trajectory through 2026.
“This funding marks an exciting milestone as we build on five years of success in the cannabis beverage market,” said Theo Terris, CEO of Uncle Arnie’s, in a news release. “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.”
“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,” added Aaron Edelheit, CEO of Mindset Capital. “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.”
The company has also been investing in leadership and infrastructure to prepare for its next stage of growth. Most recently, Uncle Arnie’s brought on chief marketing officer Brian Miesieski, a beverage industry veteran of AB InBev, Diageo and SweetWater Brewing Company, to lead brand strategy and national marketing initiatives, according to the company.
Looking ahead, Uncle Arnie’s is now in 16 markets and expanding to three more in the near term. The company states that it plans to continue building its sales and marketing infrastructure to support long-term category leadership.
