The RTD tea maker plans to use the capital for retail expansion, innovation, and operational growth ahead of Q1 2027 product launches.
The Ryl Company, a New Jersey-based ready-to-drink iced tea maker, has raised $20m in a Series C equity round led by Purchase Capital. The funds will support retail expansion, direct store delivery, and the company’s innovation pipeline, including upcoming launches in Q1 2027.
The latest funding follows a $15m Series B round last year, bringing the company’s total capital raised to $30m. The Ryl Company also recently partnered with The Hershey Company to launch sugar-free Jolly Rancher-flavored iced teas.
Lead investor Purchase Capital highlighted Ryl’s potential to lead the modern tea category. The company cited retailer trust and its direct store delivery network as key growth drivers.