$6.4m · Other round · Foodtech · London, UK
London-based soda brand Something & Nothing has raised $6.4m in equity funding led by Venrex. Existing institutional investors Rianta Capital, ACF Investors and The Source Ventures, Spadel's venture arm, also participated. The company says the financing brings its total raised since 2020 to $15.7m.
The business makes premium sodas without added sugar or sweeteners, using fruit juices, extracts and botanicals in flavours including yuzu, pineapple and pink grapefruit, and mango and Thai basil. It launched in the US in 2021, and the company now says that market accounts for more than 65% of global revenue. The fresh capital is earmarked for consumer marketing, US sales and regional hiring, additional production capacity and working capital for a larger 2027 retail pipeline.
Distribution only works when cans keep moving
Something & Nothing's US strategy is built around store-level velocity rather than collecting the largest possible number of listings. The company says it entered 260 Whole Foods stores in 2025 and has since added H-E-B, while local sampling, independent retailers and neighbourhood campaigns support each market. It credits that approach with turning Miami from its slowest-growing Whole Foods market into its fastest.
That model gives the new funding a concrete job. National awareness can create demand, but production and working capital have to keep pace with retailer orders, and regional sales teams must sustain repeat purchase after the initial launch. The brand says it reaches about 17,000 doors worldwide and aims to double the business in 2027. Its reported US revenue growth of 70% across June and July 2026, plus Amazon sales that more than doubled over the summer, are company figures and will need to translate into durable sell-through as distribution expands.
Venrex co-founder Mark Esiri said he first encountered the brand as a subscriber, invested in its previous round and decided to lead this financing after following its progress. The round also extends a relationship with Spadel: the drinks group invested through The Source in 2025, when it described Something & Nothing as a British brand expanding in the US and Europe. For the company, the next test is whether its selective, city-by-city playbook can support broader US scale without losing the retail velocity that made those listings attractive.
Sources checked:
Something & Nothing announcement via BevNET · Spadel · Something & Nothing · Tech.eu Funding Explorer
