Hard seltzer can be a lucrative business, as consumer demand for more effervescent and alcoholic options continues to grow exponentially. Ola Brew offers proof; the Hawaiian microbrewery raised over half a million dollars in a push to fund its new hard seltzer initiative.
Ola Hard Seltzer Flavors
Ola Hard Seltzer is available in four uniquely Hawaiian flavors: Ginger, Lemon Lime, Hibiscus Lavender, and Lemongrass. Each 12 ounce can contains 4.8 percent ABV. Launched in September 2019, Ola Brew introduced this new line after seeing the incredible growth potential in the hard seltzer market.
Founded in 2017, Ola Brew is dedicated to ethically sourcing its ingredients. Part of its mission is to encourage local economic growth through supporting Hawaiian farmers; it makes a point to purchase produce and other botanicals directly from the surrounding community.
To date, this initiative has resulted in Ola spending over $500,000 on locally grown ingredients. And hard seltzer, with its sparkling water base, provides an excellent canvas for Ola to showcase a whole new crop of local fruits and flowers.
Ola Brew aims to create a symbiotic relationship between the brewery and Kailua-Kona, where it produces its beer, cider, and now hard seltzers.
“We understand the value of a reciprocal partnership between a business and its surrounding community,” the company says on its website. “The more we support our community the more we feel our business supported. By purchasing our ingredients right from Hawaii-based farmers and manufacturing our beverages right here in Kailua-Kona, we are also incentivizing a circular economy and creating more job opportunities within our community. And therefore we are so happy to continue to build our organization with and for our community.”
Ola Brew Raises Capital via StartEngine
This symbiotic support is how Ola Brew has found such success through crowdfunding its new initiatives, including the new hard seltzer line. At the time of publication Ola had raised $534,988 from 491 individual investors via its StartEngine page, an equity crowdfunding portal.
According to Mr. Wonderful – aka Kevin O’Leary of the business reality show Shark Tank – StartEngine is the best site for potential venture capitalists seeking start-ups in which to invest.
Thus far it has proven to be quite a lucrative platform for said start-ups. In only four years, StartEngine has helped 375 new companies connect with 275,000 investors, raising over $200 million in the process.
There are currently just under 100 start-up opportunities seeking funding via StartEngine, but according to business news site Investor Place, Ola Brew is in fact the strongest. The brewery is putting up impressive statistics. The average investment for Ola Brew is around $1,105 per individual, which is well above the minimum investment of $225.
The fundraising strength of Ola Brew shows the power of a good idea whose time has come. Its mission of supporting the local economy by ethically sourcing ingredients from local farmers has resonated with consumers and resulted in an outpouring of support for the business. Ola Brew plans to use the funds raised to continue expanding into new states, and we only expect their strong support to keep growing.
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