Brewdog ex-CEO James Watt has co-founded a new functional soda brand which has secured a £500,000 pre-seed round to support its growth in the UK and Europe.

Named Living Things, the soft drinks brand has had a strong market debut, selling over 100,000 cans and securing listings in over 300 independent retailers including Amazon and Wholefoods, which it is set to roll out in July 2024.

Predicting a run-rate of over £1m before the end of 2024, co-founder and CEO Ben Vear said the soda brand has performed “well beyond our early expectations”.

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Vear said: “Demand for Living Things has been well beyond our early expectations, and securing support from James Watt is a real validation of our team, product and brand and will help navigate our next phase of growth.

“Our fundraise will support us growing a best-in-class team and accelerate a stand-out product which improves gut health, helps consumers reduce sugar intake, and actually tastes good, too.”

Watt added: “I came across Living Things first and foremost as a customer and myself and my girlfriend were instantly hooked. The soda category is ripe for disruption and I believe that sodas that are significantly better for you than the incumbents are going to lead that charge.

“The Living Things brand and product are both incredible, the business is led by two fantastic entrepreneurs in Ben and Jonathan. I can’t wait to use my experience in drinks to help them scale this rapidly-growing business whilst having a positive impact on people’s health and wellbeing.”

Former Brewdog Watt’s new venture follows him stepping down after 17 years at the drinks business, to be replaced by its chief operating officer James Arrow.